Production at U.S. factories increased more than expected in September despite strikes in the automobile industry curbing motor vehicle output, further evidence that the economy exited the third quarter with momentum.
Manufacturing output rose 0.4% last month, the Federal Reserve said on Tuesday. Data for August was revised lower to show production at factories dipping 0.1% instead of nudging up 0.1% as previously reported. Economists polled by Reuters had forecast factory output would tick up 0.1%.
Manufacturing accounts for 11.1% of the economy. But the worst for the sector is likely over, with the Institute for Supply Management's measure ofLast month, there were solid increases in the production of wood, primary metals, plastics and rubber products. But output of apparel and leather as well as printing and support goods declines.
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