Industrial production rose +0.4% MoM (vs 0.1% MoM expected) in December and was up +2.0% YoY, reflecting broad-based gains to end the year.

• Manufacturing output rose +0.2% MoM (vs -0.2% MoM expected) in December but declined at a -0.7% annual rate in Q4, showing a positive month offset by weaker quarterly momentum.
• The November changes in industrial and manufacturing production were both revised up, to +0.4% MoM (vs +0.2% MoM previously) and +0.3% MoM (vs 0.0% MoM previously), respectively.
• Mining output fell -0.7% MoM in December but remained +1.7% YoY, indicating a soft month while still higher than a year earlier.
• Utilities output climbed +2.6% MoM in December, supported by a +12.0% increase in natural gas output, pointing to a utilities-driven boost in overall production.
• Consumer goods output increased +0.7% MoM, as nondurables rose +1.1% while durables fell -0.7%, highlighting strength in nondurables alongside continued durables softness.
• Business equipment output rose +0.8% MoM, supported by increases in transit equipment and industrial/other equipment, signaling improved equipment production at year-end.
• Within manufacturing, durable output edged up +0.1% MoM (primary metals +2.4%, electrical equipment +1.7%, aerospace & misc transport +1.5%), while wood products, nonmetallic minerals, and motor vehicles/parts declined by at least -1%.
• Capacity utilization rose to 76.3% in December (manufacturing 75.6% unchanged; mining 85.7% down; utilities 72.3% up), remaining -3.2 ppts below the long-run average overall.