U.S. Industrial Production Climbs More Than Expected In January

(RTTNews) - Partly reflecting a surge by utilities output, the Federal Reserve released a report on Wednesday showing industrial production in the U.S. increased by more than expected in the month of January.

The Fed said industrial production grew by 0.7 percent in January after rising by a downwardly revised 0.2 percent in December.

Economists had expected industrial production to climb by 0.4 percent, matching the increase originally reported for the previous month.

Utilities output shot up by 2.1 percent and manufacturing output rose by 0.6 percent, while mining output dipped by 0.2 percent.