WASHINGTON — US industrial production was unchanged in January, but the increase in December was revised sharply higher, the Federal Reserve said Wednesday.
The rise in December production totaled one percent instead of the 0.4 percent gain originally reported, the central bank said.
Capacity utilization, meanwhile, fell slightly to 78.5 percent last month but only because of a sharp upward revision in December. The utilization rate in December was revised up to 78.6 percent from an initial reading of 78.1 percent.
Economists surveyed by MarketWatch forecast industrial production to climb 0.8 percent and utilization to total 78.6 percent.
While production rose 0.7 percent in manufacturing, the Fed said, it declined in mining and utilities.
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