Industrial Production on the Rise

In a recent report by the Federal Reserve's Board of Governors, it was revealed that industrial production in the United States experienced a 0.5% increase in January compared to the previous month. This upward trend is a positive indicator of the country's economic resilience.

Manufacturing and Mining Output

While manufacturing output saw a slight decrease of 0.1% from the month before, it still managed to achieve a 1.0% growth on an annual basis. On the other hand, mining output faced a 1.2% decline monthly but showed a 3.4% increase year-over-year.

Utilities Sector Growth

The utilities index showed significant growth, with a 7.2% increase from the previous month and a 6.9% rise compared to the same period last year. This sector's robust performance is a testament to the increasing demand for utilities in the US.

Capacity Utilization Insights

Capacity utilization for the total industrial sector reached 77.8%, marking a 0.3 percentage point increase from the month before. Although this is 1.8 percentage points below its long-run average, it represents a 1.2 percentage point increase from the same period the year before, indicating a gradual recovery towards pre-pandemic levels.