US INDUSTRIAL PRODUCTION FELL 0.3% IN DECEMBER

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By JOSH BOAK
AP Economics Writer

WASHINGTON (AP) – U.S. industrial production fell 0.3% in December, as unseasonably warm weather reduced demand for heating from utilities.

The Federal Reserve said Friday that total industrial production – which includes the manufacturing, mining and utilities sectors – slumped 1% over the past year. Factory output has tumbled 1.3% from a year ago, driving much of the overall decline as manufacturers grappled with trade disputes and slower global growth in 2019.

Still, factory output improved 0.2% in December as the metal, wood product, computer and food and beverage sectors improved. Output at auto plants fell 4.6% in December after a November surge following the end of the General Motors strike.

Mining output increased 1.3% last month because of gains in extracting oil and natural gas.

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1/17/2020 8:18:59 AM (GMT -6:00)

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