American factories increased production of machinery, metals, electrical equipment and semiconductors in September, data from the Federal Reserve showed Friday.
\n\nManufacturing output rose 0.3 percent last month, the Federal Reserve said, reversing a revised 0.2 percent decline in August. Production was 1.1 percent above its year-earlier level. August’s decline was smaller than the 0.3 percent drop initially reported.
\n\nThe overall gain came despite a sharp pullback in automobile production. Manufacturing output excluding motor vehicles and parts increased 0.5 percent in September. Excluding both autos and selected high technology industries, output also rose 0.5 percent, indicating gains extended across other factory industries.
\n\nMachinery production increased 1.4 percent for the month and was 6.9 percent above a year earlier. Primary metals output rose 1.6 percent, while fabricated metal products increased 0.6 percent. Production of electrical equipment, appliances, and components climbed 1.3 percent and was up 5.4 percent over the year.
\n\nAmerican chip manufacturing posted particularly strong growth. Semiconductor and related electronic component production rose 2.1 percent in September and was 19.9 percent above a year earlier. Output expanded at a 28.4 percent annual rate during the third quarter. The broader computer and electronic products industry produced 9.5 percent more than a year…
Original source: https://www.breitbart.com/economy/
