Compared with September 2013, the index is up 4.3%, with the largest changes in yearly growth coming in construction (4.9%) and materials (5.7%). Every category in the Fed’s report is up from a year ago.
Total capacity utilization rose to 79.3%, up 2.9% since September of 2013, but still below the long-run capacity utilization rate of 80.2%.
In September, manufacturing output moved up 0.5%, while the indexes for mining and for utilities climbed 1.8% and 3.9%, respectively. For the third quarter as a whole, manufacturing production rose at an annual rate of 3.5% and mining output increased at an annual rate of 8.7%. The output of utilities fell at an annual rate of 8.5%, for a second consecutive quarterly decline.
Consensus estimates called for a month-over-month production rise of 0.4% and capacity utilization rate of 79%. Combined with the positive readings in the latest report that new claims for jobless benefits dropped sharply, it could indicate the U.S. economy actually is gaining strength. Equities opened down Thursday morning, so investors don’t appear to be convinced that the economy is improving.
ALSO READ: September PPI — From Inflation to Deflation
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.