Industrial production in the United States rose 0.1 per cent in September, boosted by a 1.9 per cent increase in utility output, the Federal Reserve reported today.
Capacity utilisation of the nation's mines, utilities and factories rose 0.1 percentage point to 74.6 per cent.
Manufacturing output fell 0.1 per cent, the first decline since April. Motor vehicle production dropped 2.6 per cent to 11.73 million annualised units, cutting 0.2 percentage points off output.
Weak auto production masked some signs of improvement in the report. Production of high technology products surged 2.3 per cent, including 2.6 per cent for semiconductors, 2 per cent for computers and1.9 per cent for communications equipment.
Production of consumer goods fell 0.2 per cent on the falling auto production. Production of business equipment rose 0.5 per cent and is now down just 1.7 per cent in the past year.
Output is now down 1 per cent in the past 12 months. Manufacturing output has fallen 1.4 per cent in the past year.
Capacity utilization remains very low, with 25 per cent of the nation's capacity idle, far below the long-term trend of 81.3 per cent use. However, capacity is growing very slowly, rising just 0.1 per cent in August as companies hold the line on expansion plans.