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US December manufacturing output posts biggest gain in 10 months

Federal Reserve says manufacturing production jumped 1.1% last month, the biggest gain since February


US manufacturing output increased by the most in 10 months in December, boosted by a surge in the production of motor vehicles and a range of other goods, which could allay fears of a sharp slowdown in factory activity. The Federal Reserve said on Friday manufacturing production jumped 1.1 per cent last month, the biggest gain since February. Data for November was revised slightly up to show output at factories gaining 0.1 per cent instead of being unchanged as previously reported. Economists polled by Reuters had forecast manufacturing output rising 0.3 per cent in December. ...

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First Published: Fri, January 18 2019. 21:46 IST