Steady Industrial Production Masks Bounce in Manufacturing

Source: Economics Group of Wells Fargo Bank, N.A.Summary Manufacturing output rose by the most in nearly a year in January, but a record plunge in utilities caused overall industrial production to hold steady. The rebound in manufacturing is positive, but output has rolled over and activity still looks set to face challenges this year. Plunge in Utilities Offsets Rise in Manufacturing Industrial production was flat in January after having declined in six of the prior eight months. The details were favorable for manufacturing activity, but a record drop in utilities output held back overall production. READ FULL ARTICLE>>