US industrial output posts largest gain in seven months

US industrial output posts largest gain in seven months

WASHINGTON - US industrial production recorded its largest increase in seven months in September as utilities output surged after several months of declines, but manufacturing showed signs of cooling.

Industrial output rose 0.6 per cent last month after increasing 0.4 per cent in August, the Federal Reserve said on Monday.

Economists polled by Reuters had expected industrial output would rise 0.4 per cent.

For the third quarter, production at the nation's factories, mines and utility plants rose at an annual rate of 2.3 per cent, accelerating from the second-quarter's 1.1 per cent pace.

Manufacturing production edged up 0.1 per cent last month after advancing 0.5 per cent in August as automobile output slowed a bit and furniture fell.

Manufacturing output rose at a 1.2 per cent rate in the third quarter, rebounding from a 0.1 per cent fall.

Utilities rebounded 4.4 per cent in September after five straight months of declines.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.