U.S. Industrial Production Jumps Much More Than Expected In December

(RTTNews) - Industrial production in the U.S. increased by much more than expected in the month of December, according to a report released by the Federal Reserve on Friday.

The Fed said industrial production jumped by 0.9 percent in December after rising by a revised 0.2 percent in November.

Economists had expected industrial production to climb by 0.3 percent compared to the 0.1 percent dip originally reported for the previous month.

The much bigger than expected increase by industrial production came as utilities and mining output surged by 2.1 percent and 1.8 percent, respectively, while manufacturing output climbed by 0.6 percent.