WASHINGTON — Industrial production was unchanged in January after climbing a revised 1.0% in December, while capacity utilization fell to 78.5% from a revised 78.6%, the Federal Reserve reported Wednesday.
The gain in industrial production was lower than the median 0.6% increase projected by economists polled by Thomson Reuters, and the estimated capacity utilization was also just under their estimate of 78.6%.
The unchanged production figure reflected a rise in manufacturing that was offset by declines in mining and utilities, the Fed reported.
In the manufacturing sector, output was up 0.7% for January after rising a revised 1.5% in December.
