US industrial production rebounds in September
by ChemOrbis Editorial Team - content@chemorbis.com
According to the data from US Federal Reserve, the country’s industrial production slightly increased by 0.3% in September on a monthly basis from a revised decrease of 0.7% in August. The monthly increase defied the economists’ expectations calling for an increase of 0.2%.
The data revealed that the increase mainly stemmed from a 1.5% rise in utilities output. Mining output also rose by 0.4% while industrial production fell by 1.5% due to the lasting impacts of Hurricane Harvey and Irma.
The data also revealed that capacity utilization for the industrial sector increased to 76% in September from a revised 75.8% in August while capacity utilization in the manufacturing sector remained stable at 75.1%.
The data revealed that the increase mainly stemmed from a 1.5% rise in utilities output. Mining output also rose by 0.4% while industrial production fell by 1.5% due to the lasting impacts of Hurricane Harvey and Irma.
The data also revealed that capacity utilization for the industrial sector increased to 76% in September from a revised 75.8% in August while capacity utilization in the manufacturing sector remained stable at 75.1%.
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