Industrial Production Rises in October

Industrial production rose 0.9% in October after a 0.4% increase in September, according to the Federal Reserve. October’s growth was the most since April.

Manufacturing output jumped 1.3% in October after posting 0.4% growth in September. Production of durable and nondurable goods increased 0.4% and 2.3%, respectively. Capacity utilization for manufacturing increased from 75.5% to 76.4%, a rate that is 2.4 percentage points below its long-run average.

The output of mining fell 1.3% after growing 1.5% in September. The index in October was 6.4% higher than its year-earlier level.

Utilities rebounded 2.0% in October, following a 1.0% decline in September. The index in October was 0.9% 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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