The U.S. Federal Reserve reports that industrial production declined 0.1% in January bringing the total index to a reading of 98.6, slightly below December’s reading of 98.7. Note that this is only a decline because December was revised up from 98.1 last month.
The decline in January brings the year over year gains in industrial production to +2.2% from +2.1% last month.
The capacity utilization rate for total industry decreased in January to 79.1%, a rate that is 1.1% below its long-run (1972–2012) average.
