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Industrial production ticked up 0.1% in September, while manufacturing output stayed the same after inching up 0.1% in August. At 97.0% of its 2017 average, manufacturing production in September rose just 1.5% from the same month last year. Capacity utilization for manufacturing edged down to 75.5%, down 0.1 percentage point from August but up 1.0% over the past year. Capacity utilization remains 2.7 percentage points below its long-term average from 1972 to 2024.

In September, major market groups posted mixed results. Consumer goods production decreased 0.6%, while business equipment output jumped 0.7%. The fall in production of consumer durables (down 1.7%) was primarily led by automotive products’ output, declining 2.9%, while the index for consumer nondurables moved down a more modest 0.3%. Meanwhile, all major categories among business equipment improved, and the index overall moved up at an annual rate of 5.9% in the third quarter, a third consecutive quarterly increase. At the same time, the indexes for construction supplies and materials rose 0.3% and 0.4%, respectively, while the index for business supplies edged down 0.1% in September.

Durable goods manufacturing ticked up 0.1% in September and 3.0% from the year prior. Monthly growth was greatest for electrical equipment, appliances and components (up 1.8%), while wood products posted the largest decline at 3.5%. Meanwhile, led by a 1.3% drop in printing and support output, nondurable goods manufacturing decreased 0.1% in September but rose 0.3% from September 2024.