Tuesday, 02 January 2024 12:17 GMT

U.S. Industrial Output Edges Higher in September


(MENAFN) American industrial activity edged higher in September, meeting analyst forecasts while revealing persistent weakness in the manufacturing sector, Federal Reserve figures disclosed Wednesday.

Industrial production advanced 0.1% from August levels, matching economist predictions following a downwardly adjusted 0.3% contraction the prior month, the central bank's data showed.

Manufacturing output flatlined during the period after registering a modest 0.1% gain in the previous month, signaling stagnation in the sector that produces goods ranging from automobiles to electronics.

Mining production similarly held steady month-over-month, while utilities output surged 1.1% as seasonal demand patterns shifted.

Capacity utilization—a critical gauge of economic expansion and consumer demand—remained frozen at 75.9%, falling short of market projections and suggesting industrial facilities continue operating below optimal levels.

Measured year-over-year, industrial output climbed 1.6%, reflecting gradual growth compared to September of the previous year.

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