US industrial production rises 1.4% in January

By Ovunc Kutlu

ANKARA (AA) - US industrial production increased 1.4% in January, according to the Federal Reserve on Wednesday.

While the market expectation was a 0.4% gain, industrial output fell 0.1% in December.

Manufacturing output and mining production rose 0.2% and 1%, respectively, but the index for utilities jumped 9.9%, the Fed said in a statement.

Manufacturing was expected to rise 0.3% in January after falling 0.1% the previous month.

Capacity utilization for the industrial sector increased 1 percentage point to 77.6% in January from 76.6% in December. The market estimate was 76.8%.