Industrial production slipped 0.1% in December, the Federal Reserve reported Friday. The decline was below Wall Street expectations of a 0.2% gain, according to a survey by The Wall Street Journal. Capacity utilization inched lower to 76.5% in December from 76.6% in the prior month. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities. Economists had forecast a 77% rate. Key details: Auto production sank 1.3% in December and was about 6% lower for the year. Total manufacturing declined 0.3%. Utility output fell 1.5% on the relatively warm weather for the month. ... (full story)