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15 Jan, 2021 16:10

US industrial output jumps past forecasts in December

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Industrial output in the US jumped past forecasts at the end of December with across the board gains in all sub-sectors.

According to the Department of Commerce, total production rose at a month-on-month clip of 1.6% in December (consensus: 0.3%).

Adding to the beat versus economists' forecasts, readings for October and November were revised higher as well.

Factory output increased by 0.9% versus the month before, tripling the median projection of the market consensus.

Utilities' production meanwhile surged by 6.2%, more than reversing the previous month's drop of 4.5% and output from Mining was up 1.6%, building on November's gain of 2.8%.

By major market groups, production of consumer goods surged by 1.6% on the month, alongside growth of 0.6% in that of business equipment.

Construction output was up by 1.9% alongside and that of Materials by 1.7%.


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Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.