Industrial Production Down 0.3% in January
Washington, DC, February 14, 2020-Industrial production declined 0.3% in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft, reports the Federal Reserve.
The index for manufacturing edged down 0.1% in January; excluding the production of aircraft and parts, factory output advanced 0.3%. The index for mining rose 1.2%. At 109.2% of its 2012 average, total industrial production was 0.8% lower in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.3 percentage point in January to 76.8%, a rate that is 3.0 percentage points below its long-run (1972–2019) average.