U.S. factory production rose in September, led by durables and non-durables, indicating that the manufacturing sector remains in reasonable condition despite efforts by the Federal Reserve to rein in demand through higher interest rates.
Manufacturing production rose 0.4% last month, maintaining the upwardly revised 0.4% pace recorded in August, the Federal Reserve said on Tuesday.
Economists polled by Reuters had predicted output would rise 0.2%.
Year-over-year, manufacturing increased by 4.7%.
Overall industrial production rose 0.4%, after falling 0.1% in the previous month.
Economists polled by Reuters had estimated a rise of 0.1%.
The manufacturing sector’s capacity utilization, a measure of how much producers are using their resources, rose to 80.3% last month from an upwardly revised rate of 80.1% in August.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
