U.S. factory production rose in December for the second straight month, buoyed by more output of autos, electronics and business equipment.
The Federal Reserve said last week that factory output increased 0.8 percent last month compared with November. That followed a 1.3 percent rise in November, which partly reflected a rebound from Superstorm Sandy.
Paul Ashworth, chief U.S. economist at Capital Economics, said that the December report showed that manufacturing was “just about keeping its head above water.”
“While the risk of an actual contraction in U.S. manufacturing output has diminished, the economic and policy climate in the U.S. and throughout the world suggest that slow growth for U.S. factories remains the most likely path for 2013,” said Cliff Waldman, senior economist for the Manufacturers Alliance for Productivity and Innovation.
