US Industrial Output Rises More than Expected

Industrial production in the United States rose 0.7% month-over-month in January 2026, the most since February and more than market expectations of a 0.4% gain. Manufacturing output advanced 0.6%, also the most since February and above forecasts of 0.4%, with widespread gains across industry groups. Mining output decreased 0.2%, following a 0.9% decrease in December, while the output for utilities increased 2.1%. Capacity utilization rose to 76.2%, a rate that is 3.2 percentage points below its long-run (1972–2025) average.

Industrial production in the United States rose 0.4% month-over-month in December, the same as in November and above market expectations of 0.1%. Manufacturing output increased 0.2%, beating forecasts for a 0.2% drop. Also, the index for utilities rose 2.6%, supported by a 12% jump in the index for natural gas. On the other hand, mining output fell 0.7%. Capacity utilization stepped up to 76.3 percent, a rate that is 3.2 percentage points below its long-run (1972–2024) average.

Industrial Production in the United States rose 0.1% per month across October and November, the same as the rate of increase in September and a somewhat slower average pace than the past 12 months. Manufacturing output was flat in November after dropping 0.4 percent in October. There were swings in both mining and utilities output over October and November, though, on net, both sectors posted gains. Capacity utilization was 76.0 percent in November, a rate that is 3.5 percentage points below its long-run (1972–2024) average.