Manufacturing Production Increases by Most in 10 Months

U.S. factory production expanded in December by the most in 10 months, ending the year stronger than expected thanks to a surge in motor-vehicle output and gains across a range of other goods.
Manufacturing output rose 1.1% from the prior month after an upwardly revised 0.1% rise, Federal Reserve data showed Jan. 18. The results exceeded all estimates of economists surveyed by Bloomberg. Total industrial production, which also includes mines and utilities, advanced 0.3% after a revised 0.4 % increase.
The results indicate manufacturing gains remained healthy, helped by lower taxes and a strong job market that probably also boosted overall growth last quarter. Economists are closely monitoring such reports, as the partial federal government shutdown has delayed key data releases.