Overview
- Industrial production increased 0.4% in December, with manufacturing up 0.2% after upward revisions to November.
- Primary metals jumped 2.4% and utilities rose 2.6% on cold-weather demand, while mining fell 0.7%.
- Motor vehicle output declined 1.1% for a fourth straight month and was 2.8% lower than a year earlier.
- Factory activity fell at a 0.7% annualized rate in the fourth quarter even as production was 2.0% higher year over year.
- Capacity utilization ticked up to 76.3% but remained 3.2 points below its long-run average, as tariffs reshaped winners and losers and manufacturers shed 68,000 jobs in 2025.