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Industrial Production Rose 0.9% In January

(RTTNews) – (Correction: The original article incorrectly said the data was released by the Commerce Department instead of the Federal Reserve. A corrected version follows.)

Industrial production increased for the seventh consecutive month in January, according to a report released by the Federal Reserve on Wednesday, with the pace of growth during the month exceeding economist estimates.

The report showed that industrial production increased by 0.9 percent in January following an upwardly revised 0.7 percent increase in December. Economists had been expecting production to increase by 0.7 percent compared to the 0.6 percent growth originally reported for the previous month.

Additionally, the Federal Reserve said that the capacity utilization rate rose to 72.6 percent in January from a revised 71.9 percent in the previous month. The increase in the capacity utilization rate came in line with economist estimates.

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