Industrial Production Drops in September

Industrial production fell 0.2% in September, the first decline in more than a year, the Federal Reserve said Monday.

Production had risen 0.2% in August. Economists had forecast another 0.2% increase, Bloomberg reported.

Factory output dropped 0.2% excluding automobile production. Auto output grew 0.5% last month after dropped 6.3% in August.

The share of industrial capacity in use fell to 74.7%, from a revised 74.8% in August, the Fed said.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.