Input Stories

Industrial production inched up in September, according to the Federal Reserve report, which had been delayed by the government shutdown (Federal Reserve).

The big picture: Industrial production increased 0.1% in September after a 0.3% decline in August. For the whole third quarter of this year, industrial production rose at an annual rate of 1.1%.

• The manufacturing index was unchanged in September from its August reading, though utility output moved up 1.1%.
• Capacity utilization was also unchanged, remaining several points below its long-run average.

Manufacturing output: Though output in the sector remained the same in September as it was in August, it was still 1.5% above its level one year ago. Meanwhile, the manufacturing index grew 1.3% at the annual rate in Q3 2025, a slowdown from the 3.9% growth in Q1.

• Durable goods output inched up 0.1% in September, rising at an annual rate of 2.9% in the third quarter.
• Nondurable goods output ticked down 0.1% yet still improved at an annual rate in the third quarter, with an increase of 0.2%.

Capacity utilization in manufacturing: Capacity utilization in the industry dropped slightly to 75.5% in September, falling 2.7 percentage points below its long-run average.