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U.S. Industrial Production rose by 0.3%

Tuesday, Oct 17 2017
U.S. Industrial Production rose by 0.3%

U.S. industrial output rose in September as the effects of Hurricanes Harvey and Irma began to fade and construction and utilities production bounced back, the Federal Reserve said on Tuesday. Overall industrial production increased 0.3 percent in September after an upwardly revised 0.7 percent decline in August.

However, output in July was revised to a decline of 0.1 percent from the previously reported 0.4 percent gain. Industrial production data for August had been heavily impacted by the hurricanes which temporarily shut down oil, gas and chemical plants along the U.S. Gulf Coast. The Fed said that the impact of Harvey and, to a lesser extent, Irma, held back production growth in September by 0.25 percentage point.

More in this category: « ZEW Economic Sentiment increased less than expected MI Leading Index slipped in September »

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