Industrial production in January rises 0.9 percent in January on manufacturing turnaround
By Daniel Wagner, APWednesday, February 17, 2010
Industrial production rises 0.9 percent in January
WASHINGTON — Industrial production rose 0.9 percent in January, the seventh consecutive monthly increase as manufacturers help lead the nation’s economic recovery.
The Federal Reserve reported Wednesday that January’s numbers rose in all three major categories: manufacturing, mining and energy utilities. That is the first such show of strength since August 2009.
It says manufacturing rose 1.0 percent, while mining and utilities each gained 0.7 percent.
The results are a more meaningful sign of economic progress than December’s number, which the Fed revised up to 0.7 percent from the 0.6 percent reported earlier.
That increase was driven by weather-related increases in utility production, while manufacturing posted a 0.1 percent loss.
