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News Link • Economy - Economics USA

Manufacturing Production Unexpectedly Fizzles:

• by Mike Mish Shedlock

Industrial production in September rose 0.3% vs an expected gain of 0.2%, but the strength dies there. Economists expected a rebound of 0.4% in manufacturing, led by autos, but the gain was an anemic 0.1%.

MarketWatch reports Industrial production climbs 0.3% in September in face of hurricane headwinds.

What happened: Most industries boosted output in September, led by construction and utilities. Manufacturing production edged up 0.1%.

The most notable decline was in chemicals, an industry concentrated in the South. A pair of major storms that swept through the region from Texas to Florida held down U.S. production by about 0.25 percentage points, the Federal Reserve said.

Industrial production fell at a 1.5% annual rate in the third quarter, but the Fed said its index would have risen at least 0.5% if not for the hurricanes.

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