Industrial production edged down 0.1% in January after recording no change in December. In January, manufacturing output declined 0.5% and mining output fell 2.3%; winter weather contributed to the declines in both sectors.
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The index for utilities jumped 6%, as demand for heating surged following a move from unusually mild temperatures in December to unusually cold temperatures in January. At 102.6% of its 2017 average, total industrial production in January was identical to its year-earlier level.
Capacity utilization for the industrial sector moved down 0.2 percentage point in January to 78.5%, a rate that is 1.1 percentage points below its long-run (1972–2023) average.
