Industrial production increased 0.5% MoM (vs 0.3% MoM expected) in January after a strong 1.0% MoM increase in December.

• Manufacturing production fell -0.1% MoM (vs 0.1% MoM expected) and mining production fell -1.2% MoM. Both were offset by utilities up 7.2% MoM as a result of cold weather.
• A decline in motor vehicles & parts production of -5.2% MoM was the main segment dragging overall manufacturing down in January.
• On an annual basis, total industrial production was up 2.0% YoY and manufacturing production up 1.0% YoY.
• Manufacturing capacity utilization saw a slight decline of -0.1 ppts to 76.3% but was up 1.3 ppts from a year ago.