Industrial production in the U.S. fell 0.3 percent in January after increasing 0.6 percent in December, according to the Federal Reserve.
In January, manufacturing output moved up 0.2 percent and mining output increased 2.8 percent. The index for utilities fell 5.7 percent, largely because unseasonably warm weather reduced the demand for heating.
At 104.6 percent of its 2012 average, total industrial production in January was at about the same level as it was a year earlier. Capacity utilization for the industrial sector fell 0.3 percent in January to 75.3 percent, a rate that is 4.6 percentage points below its long-run (1972–2016) average.
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