Industrial Production Declined in September

Industrial production decreased 0.6% in September, its first decline after four consecutive months of gains.

Manufacturing output decreased 0.3% in September and was 6.4% below February’s level. Durables manufacturing fell 0.5% and nondurable manufacturing was unchanged from the previous month.

Mining output rose 1.7% in September driven by an increase in oil and gas extraction; in addition, oil and gas well drilling edged up following six consecutive months of declines rising by 3.5%.

The output of utilities decreased 5.6%; the output of electric utilities fell 7.3%, while the output of natural gas utilities increased 2.9%.

Read the Fed release.