Semiconductor and components production at U.S. factories jumped 2.6 percent in December. Production rose 1.5 percent in November, but only 0.2 percent in October and 0.9 percent in September.

Two months of large production increases suggest that the worldwide inventory surplus that appeared last summer is being rapidly absorbed.

Production of computer, peripherals and storage devices increased 1.6 percent. Telecom equipment production increased only 0.3 percent.

Overall manufacturing production increased a strong 0.7 percent compared to an expected trend at this stage of the business cycle of 0.4 percent to 0.5 percent.

By: DocMemory
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