Industrial production slid 0.1% in January, the Federal Reserve reported Thursday.

industrial production capacity utilization

The increase followed a revised 0.4% increase in December, first reported as a 0.9% gain.

Capacity utilization fell to 77.5% in January from December’s revised 77.7%, first reported as a 77.9%.

Economists polled by IFR Markets projected a 0.2% increase for industrial production and a 78.0% capacity utilization rate.

Manufacturing output was flat in January, following no gain in December.

Utilities’ output was up 0.6% after increasing 4.6% in December, while mining was 1.0% lower after a 0.4% decline the month before.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.