FX.co ★ US Industrial Output Rises More than Expected

US industrial production rose 0.7% month-over-month in September, the strongest gain in five months and above market expectations of a 0.4% increase. Manufacturing output, which represents roughly 78% of total industrial production, grew 0.3%, in line with forecasts. Mining output edged up 0.2%, while utilities production jumped 3.5%, supported by higher output from both electric and natural gas utilities. Capacity utilisation also improved, reaching 76.9% in September, though this remains 2.5 percentage points below its long-term average for 1972–2025. For the third quarter overall, industrial production expanded at an annualised pace of 2.8%.