WASHINGTON: The U.S. industrial production continued to fall in December 2015 primarily as a result of cutbacks in mining and utilities output.
The U.S. industrial production, an indicator of manufacturing, mines, and utilities output, fell 0.4 percent in December, following a revised-down 0.9 percent decrease in November, said the Federal Reserve on Friday.
The manufacturing output, the largest component of the overall industrial production, dropped 0.1 percent, following a decrease of 0.1 percent in November.
The index for mining fell 0.8 percent in December for its fourth consecutive monthly decline, and utilities output dropped 2 percent in the month, as continued warmer-than-usual temperatures reduced demand for heating.
U.S. dollar appreciation and the falling energy prices continue to weigh on the U.S. industrial production. New York Fed President William Dudley said Friday that manufacturing and energy industries are expected to continue to be soft in 2016, in view of the low oil prices and slower overseas growth.
