US Industrial Output Rises but Factories Stay Weak
WASHINGTON (AP) – U.S. industrial production increased only modestly in September, held back by weak growth in factory output.
The Federal Reserve says U.S. industrial production rose 0.4 percent in September after a 1.4 percent decline in August. The August decline partly reflected precautionary shutdowns before Hurricane Isaac hit the Gulf Coast.
Manufacturing output, the most important component of industrial production, edged up only 0.2 percent in September. For the July-September quarter, factory output fell at an annual rate of 0.9 percent, its first quarterly decline since the spring of 2009.
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