US industrial production beats forecasts in December

ISTANBUL

US industrial production rose 0.4% month-on-month in December, exceeding market expectations of a 0.1 percent increase, the Federal Reserve said on Friday.

Output was also up 2% annually, the Fed said.

Manufacturing production increased 0.2% on the month, following a 0.3% rise in November.

Capacity utilization climbed 0.2 percentage points to 76.3%, above market expectations of 76%.

The utilization rate, which exceeded market expectations, was forecast to be 76% during this period.

The utilization rate stood at 76.1% in November, according to the data.