The industrial production index recorded a score of 95.9 for the second straight month in January 2012, according to estimates from the Federal Reserve. Among major industry groups tracked as part of the industrial production index, the manufacturing index climbed 0.7% month-over-month, from 92.8 to 93.5. However, the mining index declined 1.8%, from 112 to 110, while the utilities index dropped 2.5%, from 98 to 95.6.

Major Market Groups Show Mixed Results

Major market groups tracked as part of the larger index displayed varying performance, with final products, business equipment, and nonindustrial supplies all reporting small month-over-month gains, while consumer goods, construction, and materials all reported minor declines. The final product index climbed 0.4%, from 97.2 to 97.7, while the business equipment index rose 1.8%, from 102.5 to 104.4, and the nonindustrial supplies index increased 0.2%, from 85.5 to 85.7.

In contrast, the consumer goods index fell 0.1%, from 94.3 to 94.2, while 0.4% declines were reported by both the construction index (79.2 to 78.9) and the materials index (98.2 to 97.8).

Industry Capacity Utilization Falls Slightly

Total industry capacity utilization fell slightly, from an index score of 78.6 in December to a score of 78.5 in January. However, manufacturing capacity increased 0.6%, from 76.5 to 77. This was offset by a 2% decline in mining capacity (93.5 to 91.5) and a 3% decline in utilities capacity (76.7 to 74.6).

Looking at stage-of-process group performance, the crude index dropped 1% (90.9 to 89.9) and the primary and semi-finished index dropped by 0.5% (75.3 to 74.9), but the finished index rose 1% (77.3 to 78.1).