34292
US Industrial Output Slumps in December
World Economy

US Industrial Output Slumps in December

US industrial production fell for the third straight month in December, a weak end to the year that underscored a worsening outlook for fourth-quarter economic growth.
Industrial output dropped 0.4% after a downwardly revised 0.9% decline in November, the US Federal Reserve said on Friday. The Fed had previously reported a 0.6% drop for November, Reuters reported.
Economists polled by Reuters had forecast industrial production declining 0.2% last month. For the fourth quarter as a whole, industrial production fell at an annual rate of 3.4%. The industrial sector measured by the US central bank comprises manufacturing, mining, and electric and gas utilities.
A strong dollar, less inventory investment and cuts by energy firms due to sustained low oil prices have hurt industrial production.
The slump in output primarily reflected cutbacks for utilities and mining, the Fed said. The utilities sector has suffered due to warmer-than-usual temperatures across much of the country, which has reduced demand for heating. Manufacturing output slipped 0.1% in December and by a downwardly revised 0.1% in the prior month.
With overall output declining, the percentage of industrial capacity in use fell 0.4 percentage points to 76.5% in December, from a downwardly revised 76.9% in November.
The Fed views capacity use as a leading indicator in deciding how much further the economy can grow before sparking higher inflation.

 

Short URL : http://goo.gl/s1eNxY
  1. http://goo.gl/3aHxh5
  • http://goo.gl/t3Ifse
  • http://goo.gl/1RJ4pd
  • http://goo.gl/brcRxh
  • http://goo.gl/1wNlVB

You can also read ...

India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...
All Asian currencies have declined this year in the fallout from the US-China trade war.
Don’t be fooled as Asian currency swings seemed to be...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...

Trending

Googleplus