Industrial Production Edged Up in September

Industrial production moved up 0.1% in September, after falling 0.5% in August. For the third quarter as a whole, industrial production rose at an annual rate of 1.8%, the first quarterly increase since the third quarter of 2015.

Manufacturing output rose 0.2% in September after falling 0.5% in August. Production of durable goods remained unchanged, but nondurable goods production increased 0.5%. Capacity utilization for manufacturing increased 0.1% to 74.9%, a rate that is 3.6% below its long-run average.

The mining index moved up 0.4% in September. Gains for oil and gas well drilling and servicing, coal mining, and nonmetallic mineral mining more than offset a drop in crude oil extraction.

The utilities index fell 1.0% in September after falling 0.3% in August. Year-over-year, the utilities index fell 0.4%.

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