Industrial production in the US dropped 0.3 percent from a month earlier in December 2019, following a downwardly revised 0.8 percent growth in November and compared to market expectations of a smaller 0.2 percent decline. Utilities output tumbled 5.6 percent, due to a large decrease in demand for heating, as unseasonably warm weather in December followed unseasonably cold weather in November. On the other hand, mining rose 1.3 percent, with most of the gain from oil and gas extraction, and manufacturing increased 0.2 percent. Nondurables production moved up 0.6 percent, led by increases for petroleum and coal products (1.6 percent) and for food, beverage, and tobacco products (1.3 percent). Durable goods manufacturing however slipped 0.2 percent, as the decrease for motor vehicles (-4.6 percent) outweighed widespread increases in other industries, such as nonmetallic mineral products (2.3 percent).
Industrial Production Mom in the United States averaged 0.27 percent from 1919 until 2019, reaching an all time high of 16.60 percent in May of 1933 and a record low of -10.40 percent in August of 1945. This page provides the latest reported value for - United States Industrial Production MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Industrial Production Mom in the United States is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in the United States to stand at 0.20 in 12 months time. In the long-term, the United States Industrial Production MoM is projected to trend around 0.20 percent in 2020, according to our econometric models.