US industrial production falls 0.1% in January

By Ovunc Kutlu

ISTANBUL (AA) – US industrial production decreased 0.1% in January, compared to the previous month, according to the Federal Reserve data released on Thursday.

The market expectation for the figure was to show an increase of 0.2%, while the figure in December was revised down from a gain of 0.1% to no change.

Annually, industrial production in January remained steady from the same month of last year, according to the Fed figures.

Manufacturing output, meanwhile, declined 0.5% in January from the previous month.

The market estimate for the figure was to show no change, following a 0.1% increase in December.

Capacity utilization, which indicates overall growth and demand in the economy, declined 0.2 percentage point to 78.5% in January.

That figure came in just slightly lower than market estimates of 78.8%.

Capacity utilization for December was revised from 78.6% to 78.7%.