U.S. Industrial Production Contracts by 0.6% in September

Industrial Production in the United States contracted by 0.6% on a monthly basis in September, the US Federal Reserve reported on Friday. This reading missed the market expectation for an expansion of 0.5% by a wide margin.

Capacity utilization for the industrial sector decreased 0.5 percentage point in September to 71.5%, a rate that is 8.3 percentage points below its long-run (1972–2019) average but 7.3 percentage points above its low in April.