Economic Buzz: US Industrial Production Rise 0.4% in September

19 Oct 2022 , 08:58 AM

Industrial production in the U.S. increased by more than expected in the month of September, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production rose by 0.4 percent in September after edging down by a revised 0.1 percent in August. The stronger than expected growth came as manufacturing climbed by 0.4 percent in September, matching the increase seen in August. Mining output also advanced by 0.6 percent in September after coming in unchanged in August, while utilities output slipped by 0.3 percent after plunging by 3.3 percent in the previous month. The report also showed capacity utilization in the industrial sector crept up to 80.3 percent in September from an upwardly revised 80.1 percent in August. Capacity utilization in the manufacturing and mining sectors inched up to 80.0 percent and 88.8 percent, respectively, while capacity utilization in the utilities sector edged down to 72.8 percent.Powered by Commodity Insights