U.S. industrial output tumbled 0.6 per cent in January

Josh Boak, The Associated Press</span>
Published Friday, February 15, 2019 9:33AM EST

WASHINGTON -- U.S. industrial production fell 0.6 per cent in January, a decline caused in large part by an 8.8 per cent plunge in the making of motor vehicles and auto parts.

The Federal Reserve says that that the manufacturing component of the index dropped 0.9 per cent last month, reversing a 0.8 per cent gain in December. Over the past 12 months, factory production has increased just 2.9 per cent. Manufacturing of wood products, computers, electrical equipment, apparel and chemicals also fell in January.

Utility output rose 0.4 per cent as the winter caused more natural gas usage. Mining edged up 0.1 per cent.

Overall industrial production is up 3.8 per cent from a year ago.

The industrial sector used less of its capacity in January, as the capacity utilization rate fell to 78.2 from 78.8 in January.

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