Reported 3 days ago
U.S. industrial production rose 0.5% in January, driven by a spike in utilities output due to cold weather, which obscured declines in manufacturing and mining. While this surpassed economists' expectations, manufacturing output decreased slightly by 0.1%, primarily affected by a significant drop in motor vehicle production. The mixed data suggests ongoing challenges for the industrial sector from high interest rates and evolving consumer spending habits, although easing supply chain issues may provide some relief. Economists expect gradual improvement in 2025, but risks remain from geopolitical tensions and potential economic slowdowns.
Source: YAHOO