Industrial production increased in December

Industrial production increased 0.9 percent in December following the ending of the work stoppage at Boeing the previous month, according to the Federal Reserve industrial production and capacity utilization report. .The increase in industrial production followed a 0.2 percent rise in November. .Manufacturing output increased 0.6 percent, which followed a 0.4 percent rise in November. The mining index increased 1.8 percent in December. Sparked by a 6.2 percent rise in the index for natural gas, the index for utilities increased 2.1 percent. .The index for durable manufacturing increased 0.4 percent, with a 6.3 percent rise in the output of aerospace and miscellaneous transportation equipment and a 1.7 percent increase in primary metals. The nondurable manufacturing index increased 0.7 percent, with rises in all subcomponents. The index for publishing and logging increased 0.8 percent. .Total industrial production was 103.2 percent of its 2017 average last month, 0.5 percent higher than its year-earlier mark. Capacity utilization increased to 77.6 percent, 2.1 percentage points under its long-term average. .The output of consumer goods increased 0.5 percent, after a rise in nondurables production outweighed a drop in durables. The output of nondurable consumer goods increased 0.7 percent, which was sparked by a nearly 2 percent jump in the index for energy. Sparked by a significant increase in the production of civilian aircraft, the business equipment index increased 1.4 percent.."Construction supplies and business supplies both posted gains of 0.9 percent in December," according to the Federal Reserve. "The index for materials rose 1.2 percent, with growth in every category of this index except consumer parts, for which output fell 1.4 percent." .Manufacturing capacity utilization increased 0.4 percentage point in December to 76.6 percent, 1.7 percentage points under its long-term average. The mining operating rate increased 1.6 percentage points to 90.8 percent, 4.3 percentage points higher than its long-term average. The utilities operating rate increased 1.3 percentage points to 71.1 percent, well under its long-term average.