WASHINGTON - Industrial production slipped 0.1% in January as utilities’ output declined with the return of more seasonable weather, the Federal Reserve reported Wednesday.
December industrial production was revised higher to a 1.2% increase from a 0.8% gain reported last month.
Capacity utilization dipped to 76.1% from an upwardly revised 76.2% in December, originally reported as 76.0%.
Economists polled by Thomson Reuters expected a 0.5% increase in industrial production and a 76.4% capacity utilization level, according to the median estimate.
Manufacturing output increased 0.3% in January. Excluding autos and parts, factory output increased 0.1%.
Output from utilities declined 1.6% for the month as winter temperatures returned to normal for most of the country, following unseasonably cold weather at the end of 2010.
Consumer goods production edged higher by 0.1% in January and consumer durable goods increased 1.4%.
