The Federal Reserve released its industrial production report on Friday. The U.S. industrial production fell 0.4% in December, missing expectations for a 0.2% decrease, after a 0.9% decline in November. November's fall was the fastest drop since May 2009.

November's figure was revised down from a 0.6% fall.

The drop was mainly driven by a fall in the mining output and utilities. Mining output plunged by 0.8% in December, while utilities production slid 2.0%.

Manufacturing output decreased 0.1% in December, after a 0.1% fall in November. November's figure was revised down from a flat reading.

Capacity utilisation rate decreased to 76.5% in December from 76.9% in November, missing expectations for a decline to 76.8%. November's figure was revised down from 77.0%.