US industrial production rises 0.7% in September, with utilities up 3.5% and manufacturing 0.3%

The Federal Reserve's G.17 release, published at 9:15 a.m. Eastern Time on 16 October 2026, put total industrial production 0.7% higher in September than in August, after a 0.1% rise in August. Over the third quarter output increased at an annual rate of 2.8%. Output in September was 2.2% above a year earlier.

What rose and what fell

• Manufacturing: +0.3% in September. Nondurable manufacturing rose 0.4%, led by printing and chemicals
• Utilities: +3.5%
• Mining: +0.2%
• Motor vehicles and parts: −3.0%, which the Fed highlighted as the main drag on manufacturing

For the third quarter as a whole, durable manufacturing rose at an annual rate of 3.8%, helped by a 28.4% gain in semiconductor and related electronic component output. Nondurable manufacturing fell at an annual rate of 1.6%.

Reading it

The September rise came from utilities and from electronics, not from the car industry. Utilities output is weather-sensitive, so a jump of this size can reverse in a later month, while the semiconductor gain is the stronger signal of investment in AI hardware. Industrial production figures are revised, so the September numbers may change.

For the context of factory data this month, see the New York Fed's October survey and the August report on US industrial output. For how survey and hard data differ, see PMIs explained. Live prices: EUR/USD.