US industrial production stable in January - Breaking The News

US industrial production stable in January

15 February

1 min read

EPA/JEFF KOWALSKY

Industrial production in the United States was unchanged in January compared to the previous month, the Federal Reserve said in a release on Wednesday. The industrial output grew 0.8% on a yearly basis.

Manufacturing production increased by 1% monthly and 0.3% yearly, while mining went up 2% and 8.6% respectively. The output of utilities plunged 9.9% compared to December due to the milder weather in January, which resulted in lower demand for heating. Year-on-year, utilities were down 8.9%. Capacity utilization fell 0.1% from December to 78.3%, and was down 1.6% compared to January 2022.

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