Industrial Production Unexpectedly Fell on Weak Manufacturing
Industrial production edged down 0.1% in January after having risen 0.4% in December.
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Manufacturing output decreased 0.4% in January after having risen 1.1% in December; the level of output in January was 1.7% above its year-earlier level but was 5.3% below its pre-recession peak in December 2007. Capacity utilization for manufacturing moved down 0.4% in January to 77.6%, a rate 1.2% below its long-run average.
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