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Industrial Production Rises on Utility Gains

Nick Nasad \ 9:29 AM EST \ January 15th, 2010
nnasad

Industrial production grew at 0.6% in the month of December, which followed a similar gain in November. The rise in output was led by a boost in utility output (+5.9%) stemming from colder than normal weather during the month. The rate at which industries used their capacities rose to 72.0% from 71.3% in November. While utilities surged, manufacturing output slid 0.1%. Industrial production is being helped by companies that ran down inventories during 2009. They have begun rebuilding those depleted stockpiles which is showing up in a rebound in the manufacturing sector. On Thursday, we saw that US business inventories rose in November.

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