FXstreet.com (Barcelona) - The economic slowdown has translated into a continuous decline in U.S. Industrial production, which, in December has posted the fourth decline in the last five moths, according to data released by the Federal Reserve.
Industrial production has declined 2.0% in December, a widely weaker reading than the -0.8% forecasted by market analysts. November's industrial output has been downwardly revised to a 1.5% decline from the 0.6% fall previously released.
Compared to December 2007, industrial production has fallen 7.8%, with manufacturing production 2.3% down, and the output of mines 1.6% lower.
Capacity utilization has declined to 73.6% in December, from revised 75.2 in November, the current capacity utilization level remains 7.4% below the average level from 1972 to 2007.