US industrial production jumps 0.9% in January, beating expectations

Industrial production in the US grew by 0.9% in January from a month earlier, beating expectations of a 0.4% rise.

Industrial production has increased by that much only three times in the last five years. In January, output was lifted by increased production of utilities and manufacturing. However, December production was revised down to -0.7% from -0.4% previously estimated.

Capacity of utilization climbed to 77.1%, above the 76.7% expected.