Monday, October 17, 2011

Industrial Production Rose 0.2% in September

Industrial production increased by 0.2% in September following no growth in August according to a Federal Reserve report released this morning. Growth in August was revised down from 0.2% to 0.0%. The report showed growth in manufacturing and mining, offsetting a drop in utilities.

Manufacturing increased by 0.4% in September driven by gains in high tech (up 0.5%) and motor vehicles (up 0.7%). Even excluding motor vehicles, manufacturing rose 0.3%. Mining output rose for the sixth consecutive month, increasing 0.8%. Utilities decreased for the second straight month, falling 1.8%.

Overall, this report indicates decent growth in industrial production for the end of the third quarter. This marginal growth is better than was expected given weak final demand.

Read the report.

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