Industrial production falls 0.2 percent in September

WASHINGTON (BestGrowthStock) – Industrial production unexpectedly fell in September, while capacity utilization eased slightly, according to a report on Monday that supported expectations of further monetary easing next month.

Production fell 0.2 percent after increasing 0.2 percent in August, the Federal Reserve said. Economists had expected September’s industrial production to rise 0.2 percent.

Manufacturing fell 0.2 percent last month and declined by a similar margin excluding motor vehicles and parts, the Fed said. Mining output rose 0.7 percent last month, while utilities dropped 1.9 percent.

Capacity utilization, a measure of slack in the economy, edged down to 74.7 percent, 4.2 percentage points above the year-ago level but still 5.9 points below the 1972-to-2009 average.

(Reporting by Lucia Mutikani; Editing by James Dalgleish)

Industrial production falls 0.2 percent in September