Today, the Federal Reserve released its monthly read of industrial production and capacity utilization. It showed a decline in January, with total industrial production falling 0.10% since December but rising 2.10% above the level seen in January 2012.
Capacity utilization also declined, dropping 0.27% from December but still climbing a slight 0.46% above the level seen in January 2012 to stand at 79.06%. It's important to recognize that although the "recovery" is well over two years old, both industrial production and capacity utilization are notably below the peaks set in late 2007.
