US industrial output slipped again in January, the Federal Reserve said today in a report.
The Fed said output of the nation's factories, mines and utilities fell 0.1 per cent in January, its sixth straight fall following a revised 0.3 per cent slip in December. Capacity in use fell to 74.2 per cent, the lowest level since April 1983.
However, manufacturing output, which makes up most of industrial production, was flat in January - the first month since July that factory output had not fallen. Overall production excluding motor vehicle assemblies was also flat.
The numbers were exactly in line with Wall Street expectations. Analysts polled by Reutershad forecast production to fall by 0.1 per cent overall and capacity in use to dip to 74.2 per cent.