Sept. industrial production above expectations

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Industrial production grew 0.3% in September, the Federal Reserve reported Tuesday.

The increase followed an unrevised 0.4% rise in August.

Capacity utilization held at 78.1% in September unchanged from an unrevised 78.1% in August.

Economists polled by IFR Markets projected a 0.2% increase for industrial production and a 78.2% capacity utilization rate.

Manufacturing output was up 0.2% in September, following a 0.3% gain in August.

Utilities’ output was flat after increasing 1.1% in August, while mining was 0.5% higher after a 0.4% increase the month before.

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