U.S. industrial production rises 0.3 pct in September

Source: Xinhua | 2018-10-17

U.S. industry output expanded 0.3 percent in September, according to a report released by U.S. Federal Reserve on Tuesday.

The Federal Reserve said that industrial production increased 0.3 percent last month after an unrevised 0.4 percent increase in August.

U.S. industrial production growth in September was decreased by less than 0.1 percentage point due to the impact of Hurricane Florence, said the Fed.

According to the Fed, U.S. consumer goods output rose 0.2 percent in September, and business equipment production increased 0.8 percent. However, construction dropped 0.6 percent after a 0.3 percent increase in August.

The report also showed that industrial output grew at a 3.3 percent annualized rate in the third quarter, which is lower than a 5.3 percent growth in the second quarter, signaling a slightly weaker momentum in the U.S. economy.