Industrial production (IP) decreased 0.1 percentage point in January. This decline was a result of changes in the production of manufacturers and mining. Utility output rose by 1 percentage point in January, as temperatures approached seasonal norms. IP for November and December 2012 was revised upward to 1.7 percentage point and 1.1 percentage point, respectively.
Manufacturing output decreased by 0.4 percentage points in January. This decrease was largely a result of a month-to-month decrease (down 3.5 percentage points) in the production of motor vehicles and parts, which surged 3.1 percentage points in December.
Additional detail:
- Manufacturing output declined by 0.4 percentage point in January. Industries that lost ground in terms of their production in January include motor vehicles and parts (down 3.5 percentage points), primary metals (down 2.6 percentage points), electrical equipment (down 0.8 percentage point), and computers and electronic products (down 0.6 percentage point).
- Industries that increased their production levels in January included aerospace and miscellaneous transportation equipment (up 1.8 percentage points) and furniture and related products, which gained 0.6 percentage point.