Still below pre-pandemic level.
The Federal Reserve reported on Friday that U.S. industrial production increased in the month of December by 1.6%. This is following a 1% increase in October and a 0.5% increase in November, showing another incremental boost to the U.S. economy. The industrial production rate has still not recovered to its pre-pandemic level.
The Fed stated, “Gains were widespread among the market groups in December. Both energy materials and consumer energy products recorded large increases because of the jump in utilities; a further rebound in the oil and natural gas sector also contributed to the strength in energy materials. Despite the gains in December, the indexes for most major market groups, other than durable consumer goods and defense and space equipment, remained below their year-earlier levels.”
As the Lord Leads, Pray with Us…
- For the Federal Reserve as they monitor the industrial production.
- That the United States economy would be released from pandemic restrictions.
Sources: AP, Federal Reserve
