September industrial production rises 0.7%, beating the 0.4% forecast; capacity utilization 76.9%

US industrial production rose 0.7% in September after a revised 0.1% gain in August, ahead of the 0.4% economists expected. Manufacturing output rose 0.3% after a 0.2% dip, mining gained 0.2% and utilities jumped 3.5%. Capacity utilization climbed to 76.9% from a revised 76.4%, above the 76.5% forecast, though still 2.5 points below its long-run average.

• Total output +0.7% m/m (forecast +0.4%); August revised to +0.1%
• Manufacturing +0.3%, mining +0.2%, utilities +3.5%
• Capacity utilization 76.9% vs 76.4% prior and 76.5% forecast
• Third-quarter industrial output grew at a 2.8% annual rate