US: Industrial production decreased 0.6% in January vs +0.1% expected

"Industrial production decreased 0.6 percent in January after rising 0.1 percent in December," the Fed announced on Friday.

Key takeaways from the press release

• . In January, manufacturing production fell 0.9 percent, primarily as a result of a large drop in motor vehicle assemblies; factory output excluding motor vehicles and parts decreased 0.2 percent.
• At 109.4 percent of its 2012 average, total industrial production was 3.8 percent higher in January than it was a year earlier.
• Capacity utilization for the industrial sector decreased 0.6 percentage point in January to 78.2 percent, a rate that is 1.6 percentage points below its long-run (1972–2018) average.