Industrial Production Rebounds in September

Industrial production rose 0.3% in September after a 0.7% slump in August, according to the Federal Reserve. September’s estimation was slightly lowered due to the continued effects of Hurricanes Harvey and Irma.

Manufacturing output grew 0.1% in September after slipping in the preceding two months. Production of durable and nondurable goods increased 0.7% and 0.4%, respectively. Capacity utilization for manufacturing remained unchanged at 75.3%, a rate that is 3.3 percentage points below its long-run average.

The output of mining rose 0.4% after a small dip in August. The index in September was 9.8% higher than its year-earlier level.

Utilities rebounded 1.5% in September, following a 4.9% decline in August. The index in September was 1.0% higher than its year-earlier level.

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About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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