WASHINGTON — Industrial production fell 0.3% in January, the Federal Reserve reported Friday.
The production loss followed an unrevised 0.3% gain in December.
Capacity utilization decreased to 78.5% from a revised 78.9% in December, originally reported as 79.2%.
Economists polled by Thompson Reuters projected a 0.3% increase in industrial production and a 79.3% capacity utilization.
Manufacturing output was down 0.8% in January following a 0.3% increase the previous month. The Federal Reserve said that the January decline occurred in part because severe weather curtailed production in parts of the country.
Utilities rose 4.1% in January after falling 1.4% the previous month. The January climb was related to an increased demand for heating due to unseasonably cold temperatures, the Federal Reserve said.
