US manufacturing output rises in September
SPY•US manufacturing output rose 0.3% in September after a revised 0.2% decline in August, but grew at a 0.7% annualized rate in the third quarter, down from 5.6% in the second quarter. Overall industrial production rose 0.7% in September.
1. Factory output rebounds
Manufacturing output increased 0.3% in September, the Federal Reserve said, following a revised 0.2% decline in August. Output was up 1.1% from a year earlier. Manufacturing grew at a 0.7% annualized rate in the third quarter, compared with 5.6% in the second quarter.
2. Industry and capacity
Durable goods output rose 0.1%, while nondurable goods production increased 0.4% in September. Motor vehicle and parts production fell 3.0%. Overall industrial production rose 0.7%, and industrial capacity utilization increased to 76.9% from 76.4% in August. The article cites higher energy prices, supply-chain disruption, borrowing costs and a trade war with Canada as risks to production.
