(MENAFN- Kuwait News Agency (KUNA)) US industrial production decreased 0.3 percent in January after having risen 0.3 percent in December partly due to severe weather, a Federal Reserve statement showed Friday
The Federal Reserve indicated that in January, manufacturing output fell 0
8 percent "partly because of the severe weather that curtailed production in some regions of the country." The output of utilities rose 4.1 percent in January, as demand for heating was boosted by unseasonably cold temperatures
At 101.0 percent of its 2007 average, total industrial production in January was 2.9 percent above its level of a year earlier
The capacity utilization rate for total industry decreased
N January to 78
5 percent, a rate that is 1.6 percentage points below its long-run (1972-2013) average
Meanwhile, manufacturing production is now reported to have been lower in the fourth quarter of 2013. The index is now estimated to have advanced at an annual rate of 4.6 percent in the fourth quarter rather than 6.2 percent as previously reported
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