The volume of industrial production in the US unexpectedly declined in January

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The report of the US Federal Reserve System on the state of industrial production in January showed that its volume in January relative to December decreased by 0.6%. Experts' forecast suggested an increase of 0.1%. The processing industry recorded a 0.9% decline in production, an increase of 0.8% in December. The most significant drop in the index - by 88% - was noted in the automotive industry. The decline was also noted in the production of equipment, computers and electronics, as well as consumer goods. The defense and aerospace industries reduced production by 0.6%. In the field of oil and gas, the decline was at 0.9%. At the same time, growth was shown by the utility sector and the mining industry.

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