According to Federal Reserve data, US industrial output rose 0.2 percent in August from July. However, July's increase was revised to 0.6 percent from 1 percent, based on newly-available data on iron, steel and other manufacturing industries. Many economists expected the output growth to slow from July, when automotive manufacturing surged. Excluding motor vehicles and parts, total industry output increased 0.4 percent, a slight gain compared to July's 0.3 percent increase.
The mild lift in output can be partially explained by rising import prices in August, which increased 0.6 percent month-on-month for a variety of products. Overall, US exports also rose, by 0.8 percent from July.
Additionally, the New York Federal Reserve's "Empire State" index, a regional index of general business conditions that often serves as an indicator of the overall US economy, slipped to 4.14 for September compared to 7.10 in August, reflecting the lowest reading since July 2009. However, any reading above zero indicates expansion.