{"id":440277,"date":"2026-10-16T21:40:06","date_gmt":"2026-10-16T14:40:06","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-september-industrial-production-0-7-vs-0-4-expected-440277\/"},"modified":"2026-10-16T21:40:06","modified_gmt":"2026-10-16T14:40:06","slug":"us-september-industrial-production-0-7-vs-0-4-expected","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-september-industrial-production-0-7-vs-0-4-expected-440277\/","title":{"rendered":"US September industrial production +0.7% vs +0.4% expected"},"content":{"rendered":"<div>\n<ul>\n<li>Prior was 0.0% (revised to +0.1%)<\/li>\n<li>Capacity utilization 76.9% vs 76.5% exp<\/li>\n<li>Manufacturing output +0.3% vs +0.3% exp<\/li>\n<li>Prior manufacturing output -0.3% (revised to -0.2%)<\/li>\n<\/ul>\n<ul dir=\"ltr\">\n<li>Mining +0.2%<\/li>\n<li>Utilities +3.5%<\/li>\n<li>Machinery +1.4%, primary metals +1.6%, electrical equipment +1.3%, chemicals +1.0%.<\/li>\n<\/ul>\n<p>The headline is flattered by utilities. Electric utility output jumped 3.7% m\/m and is up 9.6% y\/y, and the utility operating rate rose 2.3 points to 73.8%. That could be weather, but the year-over-year trend is consistent with data center load. Utilities output rose at a 14.8% annualized pace in Q3.<\/p>\n<p dir=\"ltr\">Manufacturing is a two-speed story:<\/p>\n<ul dir=\"ltr\">\n<li>Semiconductor output rose 2.1% m\/m and is up 19.9% y\/y. It grew at a 28.4% annualized rate in Q3, which drove most of the 3.8% gain in durables.<\/li>\n<li>Excluding high-tech, factory output rose just 0.2% m\/m and is up only 0.7% y\/y.<\/li>\n<li>Motor vehicles and parts fell 3.0%, with vehicles down 5.4%. Assemblies fell to a 10.21m annual rate from 10.61m in August and 11.0m in May. Excluding autos, manufacturing rose 0.5%.<\/li>\n<\/ul>\n<p>AI is truly eating the world and it&#8217;s masking the undercurrents in the rest of the economy. Unfortunately, monetary policy is a blunt instrument and hiking rates to cool off inflation is going to hit the rest of the economy hard, including the struggling motor vehicle and overall manufacturing economy ex-tech. The better way to handle this would be on the fiscal side with some austerity but that&#8217;s not coming.<\/p>\n<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior was 0.0% (revised to +0.1%) Capacity utilization 76.9% vs 76.5% exp Manufacturing output +0.3% vs +0.3% exp Prior manufacturing output -0.3% (revised to -0.2%) Mining +0.2% Utilities +3.5% Machinery +1.4%, primary&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-440277","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=440277"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=440277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=440277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=440277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}