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.