According to the Federal Reserve, industrial production fell 0.6% in September, its first decline after four consecutive months of gains. The index increased at an annual rate of 39.8% for the third quarter as a whole. Although production has recovered more than half of its February to April decline, the September reading was still 7.1% below its pre-pandemic February level.
Manufacturing output decreased 0.3% in September, but it advanced at an annual rate of 53.7% in the third quarter. The index for durable manufacturing fell 0.5% in September.