US industrial production rises 0.9% in December driven by Boeing strike resolution
economictimes.indiatimes.com — January 17, 2025, 05:01 PM UTC
US industrial production rose by 0.9% in December, exceeding expectations of 0.3%. This increase was driven by a rebound in aircraft manufacturing following the end of a Boeing strike, which had disrupted operations for over seven weeks. Manufacturing output increased by 0.6%, while mining output surged by 1.8% and utilities jumped by 2.1%. The overall growth marks a recovery from a decline that began in September. The Federal Reserve noted that most market groups saw gains in December, including a 0.5% rise in consumer goods output. This positive trend follows a revised increase of 0.2% in November.