Production Falls 1.8%; Capacity Use at 72.0%

Industrial production was down 1.8% in January while capacity utilization fell to 72.0, according to data released yesterday by the Federal Reserve Board.

The drop in production level followed a 2.4% decrease in December, while December capacity use was revised down to 73.3.

Thomson Reuters had forecast a 1.5% decrease for production, and a 72.5% level for capacity utilization.

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