Industrial Production Rose by 2.9% in Q3

Washington, DC, October 18, 2022-Industrial production increased 0.4% in September and 2.9% at an annual rate in Q3 2022, according to the Federal Reserve. 

In September, manufacturing output rose 0.4% after advancing a similar amount in the previous month. The index for mining moved up 0.6%, and the index for utilities fell 0.3%. At 105.2% of its 2017 average, total industrial production in September was 5.3% above its year-earlier level. Capacity utilization moved up 0.2 percentage point in September to 80.3%, a rate that is 0.7 percentage point above its long-run (1972–2021) average.