US industrial production climbed 0.3 percent in September

23-Oct-2018

U.S. industry expanded again in September despite the impact of Hurricane Florence.

The Federal Reserve says industrial production, which includes output at factories, mines and utilities, rose 0.3 percent last month. It was the fourth straight increase. The Fed says that Florence reduced September output growth by less than 0.1 percentage points.

The September increase was slightly higher than economists had expected and offered more evidence that the U.S. economy is in good health.

Production rose 0.2 percent at factories, led by autos and wood products, and 0.5 percent at mines. Mining output, which includes oil and gas production, has climbed eight straight months and surged 24 percent since 2016 as oil prices rebounded from a slump.

Utility output was flat last month.

Source: ASSOCIATED PRESS