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Bloomberg
US 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 percent from the prior month after an upwardly revised 0.1 percent rise, Federal Reserve data showed.
The results exceeded all estima-
tes of economists surveyed by Bloomberg. Total industrial production, which also includes mines and utilities, advanced 0.3 percent after a revised 0.4 percent 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. The data offer some relief after recent regional and national surveys suggested a worsening outlook for factories. While manufacturing is expected to keep growing, concerns over global growth and trade-war uncertainty may limit gains in 2019.