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First Cut: UAW strike restrains industrial production in September

Industrial production fell 0.4% in September after briefly bobbing higher 0.8% in August.

Manufacturing decreased 0.5% overall for September. Output of motor vehicles and parts were down 4.2% due to the UAW strike at GM. The decline was a less severe 0.2% excluding motor vehicles as conditions remain soft overall for most sectors in manufacturing.

Mining was down 1.3% in September, giving back some of the gain of 2.4% in the prior month when gas and oil extraction came back on line in the Gulf following severe weather conditions shutting down drilling in July. Oil and gas well drilling was down 5.5% in September.

Utilities output was up 1.4% in September due to increased demand for electricity of up 1.9% while natural gas was down 1.5%. The arrival of more seasonal weather played a part.

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