Industrial production in the US fell 0.3 percent month-on-month in January, exceeding market expectations. Industrial production in the country decreased by 0.3 percent in January compared to the previous month and fell more than expected. In this period, the capacity utilization rate was 76.8 percent, meeting market expectations.
Industrial production in the US fell 0.3 percent month-on-month in January, exceeding market expectations. According to the US Federal Reserve (Fed) report, industrial production in the country decreased by 0.3 percent in January compared to the previous month.
Declining by 4 percent in December last year, the market expectation for data was 0.2 percent decrease.
It has been reported that in industrial production, which decreased more than expected, the air temperatures above seasonal norms and the slowing of aircraft production of one of the major manufacturers of the country played a decisive role.
In the period in question, manufacturing industry production also fell 0.1 percent, followed a course in line with market expectations.
Capacity utilization rate was 76.8 percent, meeting the market expectations in January. However, this rate was recorded as the lowest rate seen since September 2017.
BOEING’S “737 MAX 8” EFFECT
According to reports in the US media, it was stated that the stopping of the flight of 737 Max 8 type aircraft of Boeing, one of the leading aircraft manufacturers of the country, was effective in the decline in industrial production.
Boeing was the target of criticism due to accidents caused by the production error in the flight control system of “737 Max 8” type passenger aircraft.