US Industrial Production Defiants Growth Expectations, Shrinks Again
December 17, 2024
On Tuesday, the US Federal Reserve released data on industrial production for the country for last November, which showed that industrial production in the United States continued to shrink.
On a monthly basis, industrial production in the United States contracted by 0.1%, and the reading came contrary to market expectations that expected US industrial production to grow by 0.3%, after industrial production in the United States had recorded a contraction of 0.3% at the end of last October.
The industrial production index is considered one of the leading indicators of the health of the economy, as production is quickly affected by fluctuations in the business cycle in addition to its connection to consumer conditions such as: employment levels and profits.
