WASHINGTON - Industrial production dropped 0.2% in September, the first decline in 15 months, the Federal Reserve Board reported today.
Industrial capacity utilization was 74.7% for the month, down from an upwardly revised 74.8% in August, originally reported as 74.7%.
Economists expected industrial production would rise 0.2% and that capacity utilization would be 74.8%, according to the median estimate from Thomson Reuters.
Manufacturing output fell 0.2% and utility output sank 1.9% for the month.
For the third quarter ending Sept. 30, industrial production increased 4.8% at an annual rate following a 7% gain in both the first and second quarters of 2010. August industrial production was unrevised at a 0.2% rise.
In September, output of consumer goods declined 0.4%, and consumer durable goods fell 0.9%.
