(Federal Reserve) Total industrial production in the US rose by 1.4% in January, an upturn following a 0.1% decline the previous month.
The jump in industrial production surpassed estimates of 0.5% increase.
In January, capacity utilization increased to 77.6%, up from 76.6% in December, also surpassing estimates of 76.7%. The capacity utilization is still 1.9 below its long-run average.
Manufacturing output was up by 0.2%, while mining production improved by 1.0%. The utilities index recovered from its December decline to rise 9.9%.
Following the improvements, the total industrial production in January hit 103.55 of its 2017 average, 4.1% above last year and 2.1% past the pre-pandemic level.
SPY is down -0.44%, DXY is down -0.15%.
