US capacity utilization increased to 76.2% in January 2026 from a downwardly revised 75.7% in December but slightly below analysts' forecasts of 76.5%. Despite remaining 3.2 percentage points below the 1972–2025 average, this was the strongest reading since July 2025. Capacity utilization for manufacturing increased 0.4 percentage points in January to 75.6%, a rate that is 2.6 percentage points below its long-run average. The operating rate for mining ticked down 0.1 percentage point to 84.4%, and the operating rate for utilities moved up 1.3 percentage points to 72.9%. The utilization rates for mining and utilities were 0.8 percentage points and 11.1 percentage points below their long-run averages, respectively.