Falling utilities output drags on US industrial production in January
Total industrial production declined by 0.3% on the month but was flat in comparison to the year ago level, according to the US Federal Reserve.
Economists had penciled in an increase of 0.1% for the month.
December's increase was also marked down to show a rise of 0.6% over the month instead of the preliminary estimate of 0.8%.
By major market groups, final products output rose by 0.3% on the month (consumer goods: -0.1%, business equipment: 1.2%), that of non-industrial supplies was unchanged (construction: 0.9%) and that of Materials (-0.2%).
From an industry angle, Manufacturing output was ahead by 0.2%, that of Mining by 2.8% and that of Utilities sector -5.7%.
Industrial capacity in use ran at 75.3% January (consensus: 75.6%).
Nevertheless, Ian Shepherdson, chief economist at Pantheon Macroeconomics, said: "Total production was depressed by a huge 5.7% plunge in utility output, because January's much warmer-than-usual weather depressed demand for heating energy. But manufacturing output rose 0.2%; excluding the volatile auto sector, output was up 0.5%, the best performance since November 2014."