US industrial production rises 0.3% in September

By Ovunc Kutlu

ISTANBUL (AA) - US industrial production rose 0.3% in September compared to the previous month, according to new Federal Reserve data.

The figure came in higher than market expectations of a 0.1% increase, after remaining flat in August, said the data released Tuesday.

Annually, industrial production rose 0.1% in September compared to the same month last year, according to the Fed figures.

Manufacturing output, meanwhile, climbed 0.4% in September from the previous month.

The figure came in better than estimates of a 0.1% monthly gain, after posting a decline of 0.1% in August.

Capacity utilization, which indicates overall growth and demand in the economy, moved up 0.2 percentage point to 79.7% in September.

The figure was slightly higher than estimates of 79.6% after standing at 79.5% in August.