U.S. Industrial Production Rises in January

Industrial production in the United States expanded last month, as the American economy recovers from the impact of the Coronavirus pandemic.

Production at U.S. factories increased by 1% in January, following a 0.9% rise in December, data by the Federal Reserve showed on Wednesday.

This marked the ninth consecutive monthly increase in U.S. factory output.

The production of motor vehicles and parts fell by 0.7% in January due to a shortage in semiconductors.

Motor vehicle production decreased by 0.2% in December.

Overall industrial production expanded by 0.9% in January, as mining output rose by 2.3%.

Capacity utilization also increase by 0.7% to 74.6% in January.