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US industrial output falls below estimates in Jan

by ChemOrbis Editorial Team -
  • 19/02/2015 (14:37)
According to a report published by the US Federal Reserve, the country’s industrial production grew at a slower pace than expected in January. Industrial output rose 0.2% in January on the back of a significant increase in utilities output. Economists’ initial estimates called for 0.3% for January.

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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