U.S. industrial production increased by 0.4 percent in September, according to a recent Federal Reserve report.
Total industrial production in September was 5.3 percent higher than its year-earlier level, according to the Fed, and increased at a nearly 3 percent annual rate during the third quarter. Capacity utilization slightly increased to 80.3 percent, 0.7 percentage point above its long-term average.
Manufacturing output also increased 0.4 percent in September, a similar increase to August. The index for durable and nondurable manufacturing increased 0.5 percent and 0.3 percent, respectively. The index for publishing and logging manufacturing decreased by 0.7 percent while mining increased 0.6 percent and utilities dropped 0.3 percent. The output of consumer goods fell 0.6 percent at an annual rate in the third quarter, which indicates a slowdown from its 3.1 percent rate of change in the second quarter.
Among major market groups, construction supplies saw the largest gain at 1.1 percent while business supplies experienced the only decline at 0.2 percent. The index for materials increased 0.3 percent in September and is up 4 percent at an annual rate in the third quarter.
Within durable manufacturing, gains of at least 1 percent were seen in nonmetallic mineral products, fabricated metal products, computer and electronic products, and motor vehicles and parts; miscellaneous manufacturing was the only category that lost at least 1 percent. Within nondurables, declines in paper and in printing and support were outweighed by increases in food, beverage and tobacco products; apparel and leather; and petroleum and coal products.
The operating rate for mining increased by less than half a percentage point, to nearly 89 percent, while the operating rate for utilities fell by less than half a percentage point, to 72.8 percent. The rate for mining was 2.5 percentage points above its long-term average while the rate for utilities remained well below its long-term average.