Industrial production (IP) rose a solid 1.0 percent in September, rebounding from a 0.2 percent decline in August. Manufacturing production increased 0.5 percent compared with the previous month, despite a 1.4 percent drop in motor vehicle and parts output. The gains in manufacturing were mixed across its other major components. Manufacturing production rose at an annualized rate of 3.5 percent in the third quarter. Utilities output increased 3.9 percent over August levels, and mining output rose 1.8 percent compared with the previous month. Year over year, total IP increased 4.3 percent. The rise in manufacturing production in this report is generally consistent with other regional surveys and the Institute for Supply Management index, suggesting ongoing moderate growth in manufacturing.
