Industrial Production Growth Rate Slows

Industrial production at the nation’s factories, mines and utilities moderated in September, wrapping up a third quarter that posted the slowest growth in manufacturing output since early 1999. The Federal Reserve reported that output rose 0.2% last month, down from a 0.4% increase the month before. Output at factories rose 0.3% in September after a 0.2% advance. Mining production, after showing no change in August, fell 1% in September. Production at utilities rose 0.7%, down from a 3.6% rise in August, when warmer-than-normal weather boosted demand for electricity. Production of consumer goods, including home appliances and automotive products, rose a brisk 0.8%, after having edged up a slim 0.1% the month before. Car and truck production rose 1.1% in September, down from a 4.4% rise the month before. For the third quarter, car and truck assemblies were running well below the second-quarter rate, the Fed said.