Industrial production grew slightly in January, according to a report released Friday by the Federal Reserve.
Industrial production rose 0.1% in January from the previous month, meeting the growth expectations of economists surveyed by Briefing.com.
Capacity utilization for all industries, a measure of operating rates for the nation's factories, remained flat at 81.5%. Economists had expected utilization to slip to 81.4%.
Industrial production has been volatile over the last year, registering up and down growth since January 2007.
This article addresses the various effects that the declining economy is having on various types of production. According to the article, while some industries did see increases (industrial production and production of consumer goods), others have seen a serious decline in productivity (production of appliances, furniture, and carpeting and automotive production). This shows the staggering effects that the economy can have on various aspects of life in the United States. If the economy continues to worsen, there will most likely be even less productivity which can eventually lead to a loss of jobs which is harmful for the economy. Therefore, immediate action must be taken so that the United States will not see this destruction come about.
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