Industrial Production Falls 0.3%, Capacity Use at 75.3% in Jan.

Industrial production was down 0.3% in January, the Federal Reserve reported Wednesday.

The increase followed a revised 0.6% rise in December, first reported as a 0.8% increase.

Capacity utilization fell to 75.3% in January from a revised 75.6%, first reported as 75.5%, the previous month.

Economists polled by Thomson Reuters projected a flat reading for industrial production and a 75.5% capacity utilization rate.

Manufacturing output was up 0.2% in January, following a 0.2% gain in December.

Utilities' output fell 5.7% after increasing 5.1% in December, while mining was up 2.8% after a 1.4% decline the month before.

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