Washington: US industrial production rose 0.4% month-on-month in December, exceeding market expectations of a 0.1 percent increase, the Federal Reserve said on Friday. Output was also up 2% annually, the Fed reported.

According to Anadolu Agency, manufacturing production increased 0.2% on the month, following a 0.3% rise in November. Capacity utilization climbed 0.2 percentage points to 76.3%, above market expectations of 76%.

The utilization rate, which surpassed market forecasts, was projected to be 76% during this period. The utilization rate stood at 76.1% in November, as per the data.