US Factory Output Rises 0.3% in December

U.S. factory production rose in December as manufacturers churned out more furniture, computers and steel, offsetting a small decline in autos.

The Federal Reserve says factory production increased 0.3 percent last month, the fourth straight gain. The increase comes after total output finally passed its pre-recession peak in November.

The figures suggest that U.S. manufacturers are adding modestly to economic growth, even as their overseas markets shrink. Most analysts are counting on Americans’ appetite for cars, electronics and appliances to drive greater factory output.

Overall industrial production, which includes mining and utilities, slipped 0.1 percent last month. Utility output plummeted 7.3 percent, as an unseasonably warm December lowered demand for heating.

Mining output, which includes oil and gas production, rose 2.2 percent after 2 months of declines.

via Kitco

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza