By TheStreet Staff What Are Industrial Production and Capacity Utilization?Industrial production and capacity utilization measure the output of manufacturing in the U.S. and are used to gauge consumer spending, inflation, and economic growth. Industrial production is a measure of the change in the production output of factories, mines, and utilities, while capacity utilization is a measure of their industrial capacity and how much of it is being used. What Are the Origins of Industrial Production and Capacity Utilization?Industrial production is one of the oldest economic indicators covering t…