Manufacturing Production Rose for the Fourth Straight Month in December, up 2.4% Year-over-Year

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The Federal Reserve said that manufacturing production rose for the fourth straight month in December, edging up by 0.1 percent. While this was slower than the 0.3 percent gain seen in November and while we might prefer increases that were more broad-based for the month, the data remain encouraging overall. Indeed, manufacturing production has risen by 2.4 percent over the past 12 months, down from 2.5 percent in November, which was the best year-over-year rate since July 2014. In a similar manner, manufacturing capacity utilization matched November’s rate of 76.4 percent, a reading not seen since May 2008. Read More