American industrial production Falls in January

The Federal Reserve said today that industrial production in the United States fell by 0.3% in January, compared to the 0.4% recorded in December and analysts had expected US industrial production to decline by 0.2% in January.

On an annual basis, industrial production in the United States decreased by 0.8% during the twelve months to January, and manufacturing production fell by 0.1% in January from the 0.1% recorded in December.

Air and space transport equipment production fell 7.4% in January after a 0.5% increase in December after Boeing halted production of its 737 MAX aircraft, and US Treasury Secretary Stephen Manuchin said stopping the Boeing 737 might reduce US GDP growth by half Percentage points this year.