Industrial Production Rose 0.4% in August

Industrial production increased 0.4% in August after moving up 0.8% in July. Shutdowns related to Hurricane Ida held down the gain in industrial production by an estimated 0.3 percentage point. Total industrial production in August was 5.9% higher than its year-earlier level and 0.3% above its pre-pandemic level.

Manufacturing output increased 0.2% in August. Durable manufacturing increased 0.2%, while nondurable manufacturing increased 0.1%. The output of utilities increased 3.3%, driven by unusually warm weather which boosted demand for air conditioning.  The index for mining decreased 0.6% in August, reflecting hurricane-induced disruptions to oil and gas extraction.

Read the Fed release.