Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production slipped down 0.1 percent in January, following an upwardly revised 1.2 percent jump up in December. However much of the headline movements in production came as colder-than-usual temperatures in December abated in January, contributing to a 4.1 percent spike up in utilities output in December that was somewhat reversed in January (down 1.6 percent). Manufacturing production increased 0.3 percent in January after a 0.8 percent gain in December, and is up 5.6 percent over the past year. Looking at market groups, production of business equipment continued to increase, rising by 0.9 percent over the month. Transit, information processing, industrial and other all posted monthly increases. Consumer goods production increased 0.1 percent with durable goods increasing production by 1.4 percent and nondurables decreasing by 0.3 percent over the month. Automotive goods accounted for most of the increase in durable goods, increasing by 3.0 percent over the month. Miscellaneous goods ticked up by 0.6 percent while home electronics and appliances, furniture, and carpeting both decreased. Elsewhere, mining output fell 0.7 percent in January, but is still up 7.5 percent over the past year. Total Industry Capacity utilization fell 0.1 percentage point to 76.1 percent, though that was largely due a 0.1 percentage point increase in industrial capacity, its first monthly gain since May 2009.