Industrial production and capacity utilization data for January 2021 are now available.
Industrial production increased 0.9 percent in January. Manufacturing output rose 1.0 percent, about the same as its average gain over the previous five months. Mining production advanced 2.3 percent, while the output of utilities declined 1.2 percent. At 107.2 percent of its 2012 average, total industrial production in January was 1.8 percent lower than its year-earlier level. Capacity utilization for the industrial sector increased 0.7 percentage point in January to 75.6 percent, a rate that is 4.0 percent below its long-run (1972–2020) average.The data in this release include preliminary estimates of industrial capacity for 2021 (table 8). Measured from fourth quarter to fourth quarter, total industrial capacity is projected to rise 0.5 percent this year after being unchanged in 2020. Manufacturing capacity is expected to edge up 0.2 percent in 2021 after slipping 0.2 percent in 2020. Capacity in the mining sector is estimated to drop 1.7 percent in 2021 after falling 2.1 percent in 2020. Capacity at electric and natural gas utilities is projected to increase 2.6 percent in 2021 after expanding 3.2 percent in 2020.]]>
