Industrial Production Rises 0.2%

Industrial production increased for the fourth straight month, rising 0.2% in August, the Federal Reserve said Thursday.

The measure of output from factories, mines and utilities followed a 0.9% increase in July, which was the largest gain this year.

Economists had forecast no change in August, Bloomberg reported.

Factory production, which makes up three-quarters of the total, rose 0.5%.

Production of automobiles and parts climbed 1.7%, while factory production excluding autos rose 0.4%.

Business equipment production increased 0.7%.

Capacity utilization, which measures plant output, rose to 77.4%, from a revised 77.3% in July.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.