US Industrial Output Rises for Third Straight Month in September

The industrial output in the United States has increased more than what is expected as September figures rolled out. According to the data released on Friday, industrial output from factories, mineral mines, and utilities in the country has risen for the third straight month giving more push for the aimed economic recovery.

Led by the US government’s “Cash for Clunkers” program, outputs in the auto industry spurred much more than what analyst have predicted. However, experts said that the increase is “already given” since such stimulus program was designed to do so.

But one of the most unexpected gains came from the steel and other manufacturing sectors, which makes most of the sales without the help from the government-based programs.

“Most of the sales in the car industry were due to the cash for clunkers program of the government. Although it was already seen to be like this, it was not expected that other industries like steel factories making strong push for the replenishment of their inventories and exports. Factories are surely back in business,” said BMO Capital Markets head economist Jennifer Lee.

Based on Federal Reserve records, industrial production has increased by 0.7 percent in September, beating the 0.2 percent growth expected by Wall Street experts.

In August, the industrial market also disappointed low prediction of 0.8 percent by making a single digit growth of 1.2 percent.Analysts said that the growth will continue in the following months as the economy makes more stronger push to restore operations back to normal.