U.S. industrial production rises slightly in September

U.S. industrial production rose slightly in September as a rebound in manufacturing and mining output was largely offset by a decline in utilities output, the Federal Reserve said Monday.

Industrial production, an indicator of manufacturing, mines and utilities output, rose 0.1 percent in September from the previous month, following a revised 0.5 percent decline in August, the Fed said. Economists had forecasted a 0.2 percent gain for industrial production last month.

The manufacturing output, the largest component of the overall industrial production, rose 0.2 percent in September, reversing its decline in the previous month.

Mining output rose 0.4 percent last month, its fourth rise in the past five months, suggesting the energy sector might have stabilized.

But utilities output fell 1 percent in September, the second consecutive monthly decline despite unseasonably warm weather in the month.

The sluggish pace of overall industrial production in September suggests that U.S. economic growth in the third quarter might not be as strong as previously estimated.

The U.S. economy grew at an annual rate of 1.4 percent in the second quarter this year, following a sluggish pace of 0.8 percent in the first quarter, according to the Commerce Department. Enditem