Industrial Production Falls in January; Manufacturing Gains
ndustrial production fell in January following three months of increases, but manufacturing rose, the Federal Reserve said Wednesday.
The 0.2% decline at factories, mines and utilities followed a followed a revised 0.9% gain in December that had originally been reported at 0.8%, the Fed said.
Economists had forecast a 0.2% increase, Bloomberg reported.
The share of industrial capacity in use fell to 80.9% from an 81.2% reading in December that was the highest in more than five years.
The factory sector is one of trucking’s largest and most important customers.
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