HDRO - Harsh Weather Drives A Surge In Utility Output While Manufacturing Posts A Modest Gain
- Industrial production jumped 1.4 percent in January. This was led by an increase in utility output, which surged 9.9 percent for the month, with natural gas up 24.2 percent and electric up 7.6 percent.
- Manufacturing output - about 74 percent of total output - posted a modest 0.2 percent increase for the month.
- Energy production (about 27 percent of total output) rose 4.8 percent for the month, with significant gains across all five components.
- Motor vehicle and parts production (slightly under 5 percent of total output) continues to be volatile as the industry struggles with a semiconductor chip shortage. Motor vehicle and parts production fell 0.9 percent in January.
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Harsh Weather Drives A Surge In Utility Output, While Manufacturing Posts A Modest Gain