Industrial Production Up 0.9% in January

Washington, DC, February 17, 2021-Industrial production increased 0.9% in January, according to the Federal Reserve.

Manufacturing output rose 1.0%, about the same as its average gain over the previous five months. Mining production advanced 2.3%, while the output of utilities declined 1.2%. At 107.2% of its 2012 average, total industrial production in January was 1.8% lower than its year-earlier level. Capacity utilization for the industrial sector increased 0.7 percentage point in January to 75.6%, a rate that is 4.0% below its long-run (1972–2020) average.