Total industrial production contracted 0.6% in January after a revised 0.1% rise that was also revised down.
Source: www.bondbuyer.com
Federal Reserve (Fed) reported that industrial production in the U.S. has fallen by 0.6% in January 2019. This was impacted due to the decline in manufacturing output by 0.9%, reflecting a large drop of 8.8% in motor vehicle and parts production. Manufacturing accounts for ~12% of the U.S. economy. Capacity utilization for the industrial sector dropped to 78.2% in January compared to 78.8% in December, according to Fed. This overall decline reflects rising protectionism and decelerating economic growth around the world.
