October 17, 2011 – Industrial production rose 0.2% in September, in line with expectations, as a gain in manufacturing offset a drop in utility output, a Federal Reserve report showed on Monday.
Continue Reading Below
September's industrial output gain followed an downwardly revised reading showing flat output in August. Economists polled by Reuters had expected a 0.2% gain in September.
Utility output fell 1.8% in September after dropping 2.9% in August following a July heat wave.
But manufacturing production rose 0.4%, with consumer durables rising 0.9% as production rose for automotive products and home electronics. This followed a downwardly revised 0.3% rise in August factory output.
Mining output rose 0.8%, matching the gain posted in August.
Capacity utilization, which gauges firms' performance relative to their full potential, edged up to 77.4% in September, from a downwardly revised August reading of 77.3%.