Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production decreased 0.1 percent (nonannualized) in January, following a 0.4 percent increase in December. On a year-over-year basis, overall production is up 2.1 percent, the lowest year-over-year growth rate since the last recession. Manufacturing production fell 0.4 percent in January while the year-over-year growth rate continues to slow as well increasing 1.7 percent. Breaking down the manufacturing sector, durable and nondurable goods decreased 0.5 percent and 0.3 percent, respectively. Within durable goods manufacturing, motor vehicles and parts posted the largest decreases, falling 3.2 percent in December. Primary metals also posted a notable decline, falling 2.6 percent. Overall capacity utilization dropped 0.2 percentage points to 79.1 percent of capacity which is still 1.1 percentage points below is long run average.