US DATA: Dec Industrial Production +0.4% after -0.3% Nov (was -0.2%
prev). Dec mfg +0.9%, driving the gain; utilities -2.7% as “unseasonably
warm weather reduced the demand for heating”; and mining +0.3%. IP was
+2.9% YOY. Cap-utilization 78.1%, still 2.3 pts below its long-run
(1972-2010) average. In mfg, most areas gained. Business eqpt was esp
strong at +0.8% due to gains in info processing eqpt and industrial
(even with transit equipment -1%), as a tax credit expired at year-end.
Annual rev is due Mar 30, but this release had minor revs back to Aug.
It now shows Dec IP +0.4%, Nov -0.3%, Oct +0.6%, Sept +0.2%, Aug +0.2%.