The sharp drop in industrial production in the US
The US Federal Reserve (Fed) announced industrial production and capacity utilization data for December 2022. Consequently, the country’s industrial production decreased by 0.7 percent in December last year compared to The last month.
Industrial production, which fell more than market expectations, was expected to decline 0.1 percent in this period. Industrial production, which posted its biggest decline since September 2021 as high interest rates and prices suppressed demand, fell 0.6 percent in November last year.
The production of the manufacturing industry decreased by 1.3 percent per month in December last year.
A 0.3 PERCENT DECREASE WAS PROJECTED
Manufacturing output, which fell more than expected, was expected to decline by 0.3 percent in this period. Manufacturing output, which posted the largest decline since February 2021, fell 1.1 percent in November last year.
The capacity utilization rate in the country decreased by 0.6 points to 78.8 percent in the same period.
The market expectation for the capacity utilization rate was 79.6 percent.
The capacity utilization rate, which was below market expectations, was recorded at 79.4 percent in November last year. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
