Industrial Production Up 0.5% in January

Washington, DC, February 14, 2025-Industrial production (IP) increased 0.5% in January after moving up 1.0% in December, according to the Federal Reserve. 

In January, gains in the output of aircraft and parts contributed 0.2 percentage point to total IP growth following the earlier resolution of a work stoppage at a major aircraft manufacturer. Manufacturing output declined 0.1% in January, held down by a 5.2% decrease in the index for motor vehicles and parts. The index for mining fell 1.2%, while the index for utilities jumped 7.2%, as cold temperatures boosted the demand for heating. 

At 103.5% of its 2017 average, total IP in January was 2.0% above its year-earlier level. Capacity utilization stepped up to 77.8%, a rate that is 1.8 percentage points below its long-run (1972–2024) average.