US industrial production records biggest drop in 15 months – WORLD

US industrial production suffers biggest decline in 15 monthsWASHINGTON (AA) — U.S. industrial production fell 0.7% on a monthly basis last December, the biggest drop since September 2021.The US Federal Reserve System (FRS) released data on industrial production and capacity utilization for December 2022. Accordingly, industrial production in the country in December last year decreased by 0.7 percent compared to the previous month, while industrial production, which fell above market expectations, was expected to decrease by 0.1 percent over this period. Industrial production, which recorded its biggest decline since September 2021 as high interest rates and prices dampened demand, fell 0.6 percent last November.Manufacturing output fell 1.3 percent on a monthly basis in December last year.Manufacturing output, which declined more than expected, is expected to fall by 0.3 percent over the period. Manufacturing output, which recorded the biggest decline since February 2021, fell by 1.1 percent in November last year, while the country’s capacity utilization rate fell by 0.6 points to 78.8 percent over the same period. market expectations, was recorded 79.4 percent in November last year.