Industrial Production Rises in September

Industrial production grew 0.6% in September after a 0.4% increase the month before, the Federal Reserve reported Oct. 28.

The figure beat the average forecast from economists surveyed by Bloomberg News that production growth would not change from 0.4%.

Factory production, which accounts for about 75% of industrial output, rose 0.1% after a 0.5% gain in August that had been revised downward, the Fed reported

Capacity utilization, which measures industrial plant output, rose to 78.3% from a 77.9% that was revised upward.

Motor vehicle and part manufacturing grew 2% after August’s 5.2% gain, the Fed said.

Manufacturing accounts for about 12% of the U.S. economy. The factory sector is one of trucking’s largest and most important customers.