empty
 
 

2018.10.1609:55:00UTC+00U.S. Industrial Production Rises In Line With Estimates In September

Industrial production in the U.S. increased in line with economist estimates in the month of September, according to a report released by the Federal Reserve on Tuesday.

The report said industrial production rose by 0.3 percent in September after climbing by 0.4 percent in August. The continued increase in production matched expectations.

The Fed said output growth in September was held down slightly by Hurricane Florence but noted the estimated negative effect was less than 0.1 percentage points.

Production growth in September was partly due to the fourth consecutive monthly increase in manufacturing output, which edged up by 0.2 percent after rising by 0.3 for two straight months.

Michael Pearce, Senior U.S. Economist at Capital Economics, said the continued increase in manufacturing output suggests tariffs are helping to boost domestic production.

"But with the appreciation of the dollar and slowdown in global growth set to weigh on the sector more heavily in the months ahead, growth in manufacturing output still looks set to weaken," Pearce said.

Mining output also climbed by 0.5 percent in September after rising by 0.4 percent in August, while utilities output was unchanged after jumping by 1.1 percent in the previous month.

The report also said capacity utilization for the industrial sector came in at 78.1 percent in September, unchanged from August. Capacity utilization had been expected to tick up to 78.2 percent.

While capacity utilization in the manufacturing sector inched up to 75.9 percent, capacity utilization in the mining and utilities sectors edged down to 92.1 percent and 77.7 percent, respectively.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback