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Industrial Production Rises for Fifth Month
Industrial production rose for a fifth straight month in September, led by a gain in automobile output, the Federal Reserve said Monday.
The 0.2% gain in output from factories, mines and utilities followed an unchanged reading in August that had originally been reported as a 0.2% increase.
The September reading was in line with economists’ estimates, Bloomberg reported.
Factory production, which makes up three-quarters of the total, rose for a third straight month, gaining 0.4%.
Production of automobiles and parts increased 0.7%, while factory production excluding autos rose 0.3%.
Capacity utilization, which measures plant output, rose to 77.4%, from a revised 77.3% in August.
Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.
