Industrial production decreased by 0.7% in December and 1.7% at an annual rate in the fourth quarter.
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Total industrial production is 103.4% of its 2017 average and up 1.6% from the prior-year period. Manufacturing output fell 1.3% in December.
Capacity utilization dropped 0.6 percentage point in December to 78.8 percent, a rate that is 0.8 percentage point below its long-run (1979-2021) average.
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