Industrial production in the United States rose 0.4% month-over-month in December, the same as in November and above market expectations of 0.1%. Manufacturing output increased 0.2%, beating forecasts for a 0.2% drop. Also, the index for utilities rose 2.6%, supported by a 12% jump in the index for natural gas. On the other hand, mining output fell 0.7%. Capacity utilization stepped up to 76.3 percent, a rate that is 3.2 percentage points below its long-run (1972–2024) average.