“Industrial production increased 0.3 percent in September, about the same rate of change as in the previous two months,” the Board of Governors of the Federal Reserve System announced on Tuesday.
Key takeaways from the press release
- Output growth in September was held down slightly by Hurricane Florence, with an estimated effect of less than 0.1 percentage point.
- For the third quarter as a whole, total industrial production advanced at an annual rate of 3.3 percent.
- In September, manufacturing output moved up 0.2 percent for its fourth consecutive monthly increase, while the output of utilities was unchanged.
- Capacity utilization for the industrial sector was unchanged at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972-2017) average.
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