U.S. industrial production plunged 2% in December, the Federal Reserve said Friday, while automobile output fell to the lowest level in 25 years.
The decline in production at factories, mines and utilities followed a revised 1.3% decrease in November that was more than double the originally reported decline.
Manufacturing, which accounts for about four-fifths of industrial production, fell 2.3%.
Economists had forecast production would fall 1% Bloomberg reported.
The share of industrial capacity in use fell to 73.6%, from 75.2% in November.
The factory sector is one of trucking’s largest and most important customers.
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