Investing.com - U.S. industrial production unexpectedly fell in January, according to data released on Thursday.
The Federal Reserve reported that industrial production dropped 0.1% last month after advancing 0.4% in December.
Economists had forecast industrial production rising 0.2%.
Meanwhile, manufacturing production was flat in January.
Analysts had expected a 0.3% advance.
Manufacturing output gained 0.1% in December.
The report also showed that the capacity utilization rate, a measure of how fully firms are using their resources, decreased to 77.5% in January.
Economists had forecast it to inch up to 78.0% from the prior month’s reading.
December’s reading was revised down to 77.7% from the initial 77.9%.