Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production decreased 0.3 percent in January due to the decline in auto production and extreme winter weather conditions in parts of the United States. The three-month annualized growth rate dropped from 4.7 percent to 2.6 percent. Manufacturing output decreased 0.8 percent, the largest decrease experienced in the past five years. Breaking down the manufacturing sector into durable and nondurable goods, both durable and nondurable goods production decreased 0.8 percent. Auto production fell 5.0 percent, the first time decrease in three months. The decline in auto production accounted for about one-third of the decrease in manufacturing output. Due to the cold weather, utilities production increased for a fourth time in the last five months to more than 1.0 percent. Mining production fell 0.9 percent for January. However, mining is up at a 7.3 percent annualized rate over the past three months. Overall capacity utilization fell to 78.5 percent.