Industrial production increased 0.6 percent in September following a gain of 0.4 percent in August, according to the Federal Reserve. For the third quarter as a whole, industrial production rose at an annual rate of 2.3 percent.
Manufacturing output edged up 0.1 percent in September following a gain of 0.5 percent in August, and increased at an annual rate of 1.2 percent for the third quarter. Production at mines moved up 0.2 percent in September and advanced 12.9 percent for the third quarter. The output of utilities rose 4.4 percent in September following declines in each of the previous five months.
The level of the index for total industrial production in September was equal to its 2007 average and was 3.2 percent above its year-earlier level. Capacity utilization for total industry moved up 0.4 percentage point to 78.3 percent, a rate 1.9 percentage points below its long-run (1972-2012) average.
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