The U.S. Federal Reserve released its monthly report for U.S. industrial production on Oct. 18, with the lead figure surpassing consensus expectations.
Total industrial production increased 0.4% in September, according to the report. The gain was quadruple the 0.1% increase forecasted in an economist survey from The Wall Street Journal. Additionally, total industrial output in August was revised to a decline of 0.1% from the initial estimate of 0.2%.
Capacity utilization — which reflects limits to operations in U.S. factories, mines and utilities — rose to 80.3% in September, a slight improvement from 80.1% in August. Economists had projected an 80% rate.
Manufacturing output rose 0.4% in September after advancing a similar amount the previous month, according to the report. Motor vehicles and parts output rose 1% after 1.5% drop in August. Utilities output fell 0.3% in September following a significant 3.3% decline in August, while the index for mining increased 0.6% after being flat the previous month.