U.S. industrial capacity utilization rose to 76.9% in September 2026, the highest level since December 2023. This marked an increase from an upwardly revised 76.4% in August and exceeded market expectations of 76.5%. Although utilization has improved since the start of the year, it remained below its long-run average of 79.4%.
Across major sectors, the mining utilization rate inched up by 0.1 percentage point to 87.5%, standing about 2.3 percentage points above its long-run average. The operating rate for utilities climbed 2.3 percentage points to 73.8%, but remained 10.2 percentage points under its historical norm. In manufacturing, capacity utilization rose by 0.1 percentage point to 75.9%, leaving it 2.3 percentage points below its long-run average.
