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U.S. Industrial Production Rises 0.4% in September

Output of durable goods edges upward, with gains seen in the indices for aerospace, miscellaneous transportation equipment, electrical equipment, appliances and components.

A newly released report from the Federal Reserve showed U.S. industrial production inched up 0.4% in September. This marks a mild improvement over August, when U.S. industrial production fell by 1.5%.

Following is a summary of the September U.S. industrial production report:

Industry Groups

Manufacturing output edged up 0.2 percent in September; it fell 0.9 percent in August. The production of durable goods edged up 0.1 percent during the month, with gains of 1 percent or more seen in the indices for aerospace and miscellaneous transportation equipment and for electrical equipment, appliances, and components, but the output of motor vehicles and parts and of primary metals fell back.

The production of nondurables moved up 0.3 percent in September. The index was unchanged in the third quarter and fell at an annual rate of 3.1 percent in the second quarter. For September, decreases in the output of printing, of petroleum and coal products, and of plastics and rubber products were more than offset by increases in most of the other major categories.

Production in the non-NAICS manufacturing industries (logging and publishing) edged down 0.1 percent in September. This index fell at an annual rate of 10.0 percent in the third quarter after having registered a comparably sized decline in the second quarter.

Mining output increased 0.9 percent during the month after falling 1.6 percent in August, when nearly all the oil and gas extraction capacity in the Gulf of Mexico was idled in anticipation of Hurricane Isaac.

Market Groups

The production of consumer goods was unchanged in September after falling 1.5 percent in August.  Among durable consumer goods categories, the production of automotive products fell 2.9 percent, a second consecutive large decline. The indices for home electronics and for miscellaneous goods posted smaller declines, and the index for appliances, furniture and carpeting moved up. The production of nondurables advanced 0.6 percent, with increases in the output of both energy products and non-energy goods.

The output of business equipment moved up 0.8 percent in September and was nearly 11 percent above its year-earlier level. The production of transit equipment rose 1.7 percent in September after dropping 3.3 percent in August; the gain in September was boosted by an increase in the production of civilian aircraft. The output of information processing equipment moved up 0.5 percent, while the index for industrial and other equipment increased 0.4 percent.

The output of defense and space equipment gained 1.7 percent in September. For the third quarter, the index rose at an annual rate of 7.0 percent, which more than reversed a decline of 5.7 percent in the second quarter.

Among nonindustrial supplies, the output of construction supplies moved up 1.3 percent in September, but it decreased at an annual rate of 3.5 percent in the third quarter for its second consecutive quarterly decline. The production of business supplies rose 0.4 percent in September after falling 1.3 percent in August.

The complete September 2012 U.S. industrial production report is available online.

 

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Aerospace  •  Automotive  •  Defense & Military  •  Electronics  •  Industry Trends & Happenings

 

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