US Industrial Production December 2026
December 16 @ 9:15 am - 10:15 am
US Industrial Production December 2026
Next US Industrial Production: Wednesday, at 9:15 am ET (2:15 pm London). Covers November 2026 data.
- Consensus
- Not yet published
- Prior
- Not independently verified at time o…
- Actual
- Pending
Full schedule and background: US Industrial Production.
Updated
The US Industrial Production report for November 2026 is released on Wednesday, December 16, 2026 at 9:15 am ET (2:15 pm London) by the Federal Reserve Board, as part of its G.17 statistical release. Full schedule and background: US Industrial Production.
What is industrial production?
Industrial production is a monthly index compiled by the Federal Reserve that measures the real (inflation-adjusted) output of factories, mines and utilities across the United States. It is one of the oldest continuous economic series the Fed publishes and is used to track the health of the goods-producing side of the economy, which is smaller than the services sector but historically more sensitive to interest rates, energy prices and global demand.
The index is built from physical measures of output, such as tonnes of steel or barrels of oil processed, and dollar-value data, combined using a Fisher-ideal index formula. Alongside the headline number, the Fed publishes a related measure called capacity utilisation, which shows what proportion of the country’s industrial capacity is actually being used. A rising utilisation rate can be an early signal of pipeline inflation pressure, because factories running near full capacity often need to raise prices or wages to meet demand.
Markets watch the report because manufacturing and mining activity feed directly into gross domestic product and because the series is closely tied to global trade. A slowdown in US industrial output often mirrors, or is mirrored by, weaker manufacturing surveys in the eurozone, the UK and China, making this a genuinely global indicator rather than a purely domestic one.
When is the November industrial production report released?
The Federal Reserve Board publishes the report on its official G.17 release page at 9:15 am Eastern Time on December 16, 2026, which is 2:15 pm in London. The release covers activity during November 2026. The Fed typically publishes industrial production data in the middle of the following month, though the exact publication date can shift slightly around holidays and government shutdowns affecting related source data.
What is the consensus forecast?
A consensus forecast for the November 2026 industrial production report has not yet been published at the time of writing, and the previous month’s confirmed reading was not available from a verifiable public source when this page was prepared. Once economists surveyed by Reuters, Bloomberg or similar polling services publish a median forecast, and once the Federal Reserve confirms the October 2026 print, this page will be updated with attributed figures.
| Measure | Prior | Consensus |
|---|---|---|
| Industrial production (month-on-month) | Pending confirmation | Not yet published |
| Capacity utilisation rate | Pending confirmation | Not yet published |
Readers who need the confirmed prior reading ahead of publication should consult the Federal Reserve’s own G.17 industrial production and capacity utilisation release directly.
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Seen as a sign of resilient factory demand, potentially reinforcing expectations that the Fed can hold rates steady or move more gradually on cuts | Factories and mines produced more than expected, which can support jobs and wages in manufacturing regions but may also keep inflation pressure alive if capacity is stretched |
| In line with consensus | Typically a limited market reaction, since traders had already priced in the expected outcome | The industrial economy is behaving roughly as forecast, so borrowing costs and stock market pricing are unlikely to shift much on this release alone |
| Below consensus | Often read as evidence of a cooling goods sector, which can add to expectations of future interest rate cuts | Weaker output could mean softer demand for raw materials and components, which can eventually show up as slower hiring or shorter working hours in factories |
These are possible market interpretations, not predictions. Actual reactions depend on the rest of the economic backdrop, including the labour market and inflation data released around the same time.
Why does this release matter right now?
Industrial production sits alongside employment and inflation data as one of the inputs the Federal Reserve weighs when setting interest rates, because sustained weakness in factory output can be an early warning of a broader slowdown, while persistent strength can signal that the economy still has momentum despite higher borrowing costs. The series is also watched by investors in industrial and materials companies, since it offers a timelier read on demand than quarterly earnings reports.
Globally, US manufacturing trends are linked to demand for exports from Germany, Japan, South Korea and China, so a material change in the US figure can move sentiment in overseas industrial and mining shares. Currency traders also watch the release because a stronger-than-expected US industrial economy can support the dollar if it reduces the odds of near-term rate cuts, while a weak print can weigh on the dollar against the pound and the euro.
What It Means for Your Money
- Mortgages and loan rates: Industrial production does not move mortgage rates on its own, but a run of weak readings can add to a broader case for the Fed to cut interest rates, which over time can filter through to lower borrowing costs for mortgages and car loans.
- Savings: If the data feeds expectations of rate cuts, savers holding cash in high-yield savings accounts or money market funds may eventually see the interest paid on those accounts drift lower.
- Jobs and wages: Factory and mining output is closely tied to hiring in manufacturing states. A sustained slowdown can mean fewer overtime hours or hiring freezes in these sectors, while stronger output can support wage growth in industrial regions.
- Investments and pensions: Industrial and materials companies held in pension funds and index trackers tend to be sensitive to this data, so unexpected strength or weakness can move share prices in sectors such as steel, machinery and energy.
- Currencies: A surprise in either direction can nudge the dollar against the pound and euro, which affects the cost of imported goods and the returns UK and European investors get when they convert dollar assets back into their home currency.
Related events
- US Industrial Production, October 2026 data
- US retail sales, published around the same week each month
- The Federal Reserve’s interest rate decisions, which weigh industrial output alongside employment and inflation
Frequently Asked Questions
What time is the November 2026 industrial production report released?
The Federal Reserve Board publishes the report at 9:15 am ET (2:15 pm London time) on December 16, 2026.
How do I read the industrial production number?
The headline figure is a percentage change from the prior month in the seasonally adjusted index. A positive number means factories, mines and utilities produced more than the month before; a negative number means output fell.
Does industrial production affect Federal Reserve interest rate decisions?
It is one of several indicators the Fed monitors alongside employment and inflation data. It rarely moves policy on its own but contributes to the overall picture policymakers use when deciding whether to hold, cut or raise rates.
Where can I find the official release?
The data is published directly by the Federal Reserve Board on its G.17 statistical release page, which includes the headline index, capacity utilisation and detailed industry breakdowns.
When is the next industrial production report?
The Federal Reserve typically publishes industrial production data in the middle of the following month, so the December 2026 data is expected in mid-January 2027, though the exact date should be confirmed on the official release calendar nearer the time.