Industrial Production Declines in January

Click here to write a Letter to the Editor.
Industrial production fell 0.5% in December, the most in more than a year, the Federal Reserve said Thursday.The decline in production at factories, mines and utilities followed a 0.5% increase in December. The share of industrial capacity in use fell to 81.2% from 81.8% a month earlier. The downturn — the biggest since a 1.6% drop in September 2005 following Hurricane Katrina — was below economists’ forecasts of an unchanged reading, Bloomberg reported. Manufacturing, which accounts for about 80% of the index, fell 0.7% after rising 0.8% in December, the Fed said. Excluding automobiles, factory output also fell 0.7%.The factory sector is one of trucking’s largest and most important customers.