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Home » Industrial Production Improves in January

Industrial Production Improves in January

By    MDM  Staff 
February 18, 2010
More about:  Economy
Capacity utilization rises to 72.6%.
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Industrial production increased 0.9 percent in January following a gain of 0.7 percent in December. Manufacturing production rose 1.0 percent in January, with increases for most of its major components, while the indexes for both utilities and mining advanced 0.7 percent.

At 101.1 percent of its 2002 average, output in January was 0.9 percent above its year-earlier level. The capacity utilization rate for total industry rose 0.7 percentage point to 72.6 percent, a rate 8.0 percentage points below its average from 1972 to 2009.

"Improving exports as well as growing domestic demand are helping manufacturers, especially in areas like chemicals, machinery and information and communications equipment," said Thomas J. Duesterberg, president and CEO of the Manufacturers Alliance/MAPI. "The growth in exports and the inventory swing should sustain the solid performance in manufacturing throughout the first half of 2010."

Measured fourth quarter to fourth quarter, total industrial capacity is projected to decrease 0.8 percent this year after having declined 0.9 percent in 2009. Manufacturing capacity is estimated to decline 1.0 percent in 2010 following a decrease of 1.2 percent last year.

For more details, including breakout by market and industry group, download the pdf below.

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