US industrial output falls below estimates in Jan
The report showed that production in utilities climbed 2.3% in January following a decrease of 6.9% in the previous month. Manufacturing output also grew 0.2% in January while mining output was down 1% after increasing 2.1%in December.
Meanwhile, the country’s January capacity utilization rate was reported at 79.4%, unchanged on a month over month basis. Economists’ initial estimates called for an increase to 79.9%. The capacity utilization in the utilities sector rose to 78.2% in January while the reading fell to 87.5% in the mining sector.
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