(MENAFN - Kuwait News Agency (KUNA)) US industrial production fell in January following a strong rise in December of last year, a report showed here Friday.
The Federal Reserve indicated that industrial production edged down 0.1 percent in January after having risen 0.4 percent in December.
In January, manufacturing output decreased 0.4 percent following upwardly revised gains of 1.1 percent in December and 1.7 percent in November.
Meanwhile, for the fourth quarter as a whole, manufacturing production is now estimated to have advanced 1.9 percent at an annual rate; previously, the increase was reported to have been 0.2 percent.
In January, the output of utilities rose 3.5 percent, as demand for heating was boosted by temperatures that fell closer to their seasonal norms; the production at mines declined 1.0 percent.
At 98.6 percent of its 2007 average, total industrial production in January was 2.1 percent above its level of a year earlier.
The capacity utilization rate for total industry decreased in January to 79.
1 percent, a rate that is 1.1 percentage points below its long-run (1972-2012) average, the report indicated.