Manufacturing & The Economy
Industrial production increased 0.6% in September following a gain of 0.4% in August. For the third quarter as a whole, industrial production rose at an annual rate of 2.3%. Manufacturing output edged up 0.1% in September and moved up at an annual rate of 1.2% in the third quarter. At 96.0% of its 2007 average, manufacturing production in September was 2.6% above its year-earlier level. The factory operating rate was unchanged in September at 76.1%, a rate 2.6% below its long-run average.
The production of durable goods moved up 0.5% in September and advanced at an annual rate of 2.7% in the third quarter. The output of motor vehicles and parts increased 2.0%, following a gain of 5.2% in August. The index for machinery rose 1.5% in September.