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Fed: US output closes out 2013 strong

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Fed: US output closes out 2013 strong

Q4 industrial production increased 6.8%.

Industrial production rose 0.3% in December, its fifth consecutive monthly increase, according to a report issued by the Federal Reserve today.

For the fourth quarter as a whole, industrial production advanced at an annual rate of 6.8%, the largest quarterly increase since the second quarter of 2010.

"Gains were widespread across industries."

Gains were widespread across industries. Following increases of 0.6% in each of the previous two months, factory output rose 0.4% in December and was 2.6% above its year-earlier level. The production of mines moved up 0.8%; the index has advanced 6.6% over the past 12 months. The output of utilities fell 1.4% after three consecutive monthly gains.

The overall figures were largely in line with expectations.

Overall capacity utilization increased 0.1 percentage point to 79.2%, a rate 1.0 percentage point below its long-run (1972–2012) average.

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