Industrial production in the US was further boosted in January as US factories and manufacturing companies gradually overcome the problems caused by shortages in global supply chains.
In particular, manufacturing production increased by 0.2% after the revised fall of 0.1% in December, as announced today by the Federal Reserve. Compared to January 2021, production increased by 2.5%.
Total industrial production, which includes the mining sector and production by utilities, climbed 1.4% in January after falling 0.1% the previous month.
The average estimates of analysts in a Bloomberg poll spoke of an increase in manufacturing production by 0.2% and total industrial production by 0.5%.
Capacity utilization climbed to 77.6% in January from 76.6% in the previous month. This is the highest level since the beginning of 2019.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
