Industrial production rose 0.9% in January while capacity utilization increased to 72.6%, the Federal Reserve Board reported yesterday.

The gain in industrial production was the largest since August. Capacity utilization is at its highest since December 2008.

Economists had expected industrial production to rise 0.7% and a 72.6% level for capacity utilization, according to the median estimate from Thomson Reuters.

Production for December was revised higher to an increase of 0.7% from 0.6% reported last month. Capacity utilization was revised slightly lower to 71.9% from 72.0% for the month.

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