Industrial production up slightly

Industrial production grew slightly and capacity utilization remained flat in January, according to a Federal Reserve report.

NEW YORK (CNNMoney.com) -- Industrial production grew slightly in January, according to a report released Friday by the Federal Reserve.

Industrial production rose 0.1% in January from the previous month, meeting the growth expectations of economists surveyed by Briefing.com.

Capacity utilization for all industries, a measure of operating rates for the nation's factories, remained flat at 81.5%. Economists had expected utilization to slip to 81.4%.

Industrial production has been volatile over the last year, registering up and down growth since January 2007.

The production of consumer goods increased 0.3% in January, on slightly increased food production. But the production of appliances, furniture, and carpeting dropped 2.1%, as consumers continue to spend less on non-essential items amid a struggling economy.

Earlier this month, the Institute for Supply Management said January manufacturing growth was stronger than expected, rebounding from a December decline.

But the Fed report indicated that manufacturing production was flat in January, representing the slowest growth in that sector in three months.

Low automotive production contributed to the weak manufacturing numbers, as production fell 1.2% in that sector in January. Slumping car sales have severely held back manufacturing growth over the past year.