Keeping you up to date on the latest data releases.
Industrial production rose by 0.6 percent in September, following a 0.4 percent increase in August. Overall industrial production rose at an annual rate of 2.3 percent in the third quarter. Manufacturing output experienced an uptick of 0.1 percent in September, following a 0.5 percent increase in August, while the three-month annualized growth rate decreased from 2 percent in August to 1.1 percent in September.
Breaking down the manufacturing sector into durable and nondurable goods, durable goods rose by 0.5 percent and nondurable goods declined by 0.3 percent. Within durable goods furniture, computer and electronic products, and nonmetallic mineral production fell by 0.7 percent, 0.5 percent, and 0.3 percent, respectively. Motor vehicle and parts production increased by 2 percent for September. Within nondurable goods apparel and leather, plastics and rubber, and petroleum and coal products rose in output by 1.5 percent, 0.7 percent, and 0.5 percent, respectively. Mining output rose 0.2 percent after having increased by 0.6 percent in August. Mining production is 6.6 percent higher than it was in September 2012. After experiencing five consecutive months of declining production, utilities production rose by 4.4 percent. September was the first month since February that both mining and utility production increased during the same month. Overall capacity utilization increased by 0.4 percentage points, to 78.3 percent. This rate is 1.9 percentage points below its historic average.