Industrial production surged 1.4% in January, after a slight 0.1% decline in the prior month, the Federal Reserve reported Wednesday. The gain was well above Wall Street expectations of a 0.5% gain, according to a survey by The Wall Street Journal. Capacity utilization jumped to 77.6% in January from 76.6% in the prior month. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities. It is the highest rate since early 2019. Economists had forecast a 76.7% rate. Key details: Manufacturing rose 0.2% in January after a slight 0.1% fall in the prior month. Motor vehicles ... (full story)