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Industrial Production Rises More Than Forecast
Industrial production rose for a third straight month in September, gaining 0.7%, the Federal Reserve said.
The upturn in production at factories, mines and utilities followed gains of 1.2% in August and 0.9% in July.
Economists had forecast a 0.2% gain, Bloomberg reported. The amount of industrial capacity in use rose to 70.5%, from 69.9% in August.
Factory output, which accounts for about four-fifths of production, rose 0.9%, following a 1.2% increase the previous month.
The factory sector is one of trucking’s largest and most important customers.