US industrial production edges down in January
by ChemOrbis Editorial Team - content@chemorbis.com
Industrial production in the US edged down by 0.1% on a monthly basis in January, according to data released by the Federal Reserve (Fed). Economists expected the figure to increase by 0.3%.
In January, utilities output increased by 6% while manufacturing output fell by 0.5% and mining output decreased by 2.3% from the previous month due to winter weather conditions.
The data further revealed that capacity utilization for the industrial sector was at 78.5% in January, down from the revised December level of 78.7%.
In January, utilities output increased by 6% while manufacturing output fell by 0.5% and mining output decreased by 2.3% from the previous month due to winter weather conditions.
The data further revealed that capacity utilization for the industrial sector was at 78.5% in January, down from the revised December level of 78.7%.
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