US ECON: IP Falls 0.5% in January, Cap U Slips 0.6 pp to 81.2%

Once again, looking on the data has caught some of us. Industrial production fell by 0.5% in January versus consensus calling for no change and IFR calling for a 0.2% advance. Capacity use backed off suddenly from inflationary levels, falling by 0.6 pips to 81.2%.