America's Production Rates Falling

Industrial production took an unexpected fall in January. The Federal Reserve reported that the amount of stuff produced by America’s factories, mines, and power plants fell 0.1 percent in January, after having risen by 0.4 percent in December. In the past 12 months, industrial production has risen 2.1 percent. The fall is surprising, because industry has generally been a positive force in this economic expansion. The overall figure was helped by a big increase in utility production in the month. (Translation: it was cold in December.)