Factory output rises for fifth straight month
WASHINGTON — Factory output rose for a fifth straight month in December, as manufacturers cranked out more cars and trucks, appliances and processed food. The gains suggest factories gave economic growth a strong boost at the end of the year.
The Federal Reserve says factory production rose 0.4% in December. That follows gains of 0.6% in both November and October. Automakers increased their production 1.8% last month and 10.4% year over year.
Overall industrial production, which includes manufacturing, mining and utilities, increased 0.3% in December. That's also the fifth straight monthly gain.
Total production increased 3.7% over the last 12 months and has surpassed its pre-recession peak. Output is now 22% above its recession low hit in June 2009, the month the downturn ended.