WASHINGTON (Business News) - Industrial production rose 0.2 percent in September, in line with expectations, as a gain in manufacturing offset a drop in utility output, a Federal Reserve report showed on Monday.
September's industrial output gain followed an downwardly revised reading showing flat output in August. Economists polled by Business News had expected a 0.2 percent gain in September.
Utility output fell 1.8 percent in September after dropping 2.9 percent in August following a July heat wave.
But manufacturing production rose 0.4 percent, with consumer durables rising 0.9 percent as production rose for automotive products and home electronics. This followed a downwardly revised 0.3 percent rise in August factory output.
Mining output rose 0.8 percent, matching the gain posted in August.
Capacity utilization, which gauges firms' performance relative to their full potential, edged up to 77.4 percent in September, from a downwardly revised August reading of 77.3 percent.
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