The 2020 Mid-Year Economic Update_long

Industrial Production Down 0.1% in January

The slight decline follows a slight increase in December.

Industrial production edged down 0.1 percent in January after having risen 0.4 percent in December, according to the Federal Reserve.

January manufacturing output decreased 0.4 percent following upwardly gains of 1.1 percent in December and 1.7 percent in November.

In January, the output of utilities rose 3.5 percent, as demand for heating was boosted by temperatures that fell closer to their seasonal norms; the production at mines declined 1 percent.

At 98.6 percent of its 2007 average, total industrial production in January was 2.1 percent above its level a year earlier. Capacity utilization for total industry decreased in January to 79.1 percent, a rate 1.1 percentage points below its long-run (1972-2012) average.

For the fourth quarter as a whole, manufacturing production advanced 1.9 percent.

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