From the Federal Reserve’s G.17 Report:
Industrial production decreased 0.1 percent in December after rising 1.3 percent in November. The decrease in December reflected a sharp drop in the output of utilities, as warmer-than-usual temperatures reduced demand for heating; excluding utilities, industrial production rose 0.7 percent. Manufacturing posted a gain of 0.3 percent for its fourth consecutive monthly increase. The index for mining increased 2.2 percent after falling in the previous two months. At 106.5 percent of its 2007 average, total industrial production in December was 4.9 percent above its level of a year earlier. For the fourth quarter of 2014 as a whole, industrial production advanced at an annual rate of 5.6 percent, with widespread gains among the major market and industry groups. Capacity utilization for the industrial sector decreased 0.3 percentage point in December to 79.7 percent, a rate that is 0.4 percentage point below its long-run (1972–2013) average.
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The 0.11% fall in total production was the result of the contributions from various industries as shown in the table and charts below.
For charts and tables of individual sector growth, please visit our Latest Industrial Production Charts and Tables Page.
| U.S. Industrial Production – Major Industry Groups Contribution to Total Index of each Industry Group. Seasonally Adjusted. | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Total Index % Points Change by Sub-Index | Monthly Change (Pts) | 3-Month Change (Pts) | Year/Year Change (Pts) | ||||||
| Oct. 2014 | Nov. 2014 | Dec. 2014 | to June 2014 | to Sep. 2014 | to Dec. 2014 | Oct. 2014 | Nov. 2014 | Dec. 2014 | |
| Total index | -0.02 | 1.30 | -0.11 | 0.97 | 1.13 | 1.16 | 4.41 | 5.18 | 4.88 |
| – Manufacturing (SIC) | 0.17 | 0.95 | 0.20 | 0.84 | 0.53 | 1.32 | 2.75 | 3.51 | 3.56 |
| – – Durable manufacturing | 0.18 | 0.41 | 0.08 | 0.78 | 0.26 | 0.66 | 1.97 | 2.12 | 2.41 |
| – – Nondurable manufacturing | 0.01 | 0.53 | 0.13 | 0.03 | 0.37 | 0.67 | 0.95 | 1.51 | 1.28 |
| – – Other manufacturing | -0.02 | 0.00 | -0.01 | 0.03 | -0.10 | -0.02 | -0.17 | -0.13 | -0.13 |
| – Mining | -0.23 | -0.05 | 0.40 | 0.81 | 0.42 | 0.12 | 1.67 | 1.46 | 1.85 |
| – Electric and gas utilities | 0.04 | 0.39 | -0.70 | -0.68 | 0.18 | -0.28 | -0.01 | 0.21 | -0.53 |
| – – Electric power generation, transmn and distrn. | 0.07 | 0.34 | -0.60 | -0.46 | 0.13 | -0.20 | 0.02 | 0.28 | -0.35 |
| – – Natural gas distribution | -0.03 | 0.05 | -0.11 | -0.21 | 0.06 | -0.08 | -0.03 | -0.07 | -0.18 |
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