Production at U.S. manufacturers increased in December by more than projected, marking an eighth straight month of gains as steady yet more moderate demand growth and lean inventories continue to power the sector’s recovery.
Output at factories rose 0.9% from the prior month after a 0.8% gain in November, Federal Reserve data showed Jan. 15. Total industrial production, which also includes mines and utilities, jumped 1.6% in December, the most in five months, after an upwardly revised 0.5% gain.
