U.S. Industrial Production Up

The Federal Reserve reported that the U.S. industrial production jumped higher than expected in September, the third straight monthly gain, showing signs of a reviving manufacturing sector, Industry Week reports.

Output at the nation’s factories, mines and utilities rose 0.7% after an upwardly revised gain of 1.2% in August, the U.S. central bank said in a report. Most economists had forecast a 0.2% rise. The previous figure showed August production growing at a slower rate of 0.8%. For the third quarter as a whole, output advanced at an annual rate of 5.2%, the first quarterly gain since the first quarter of 2008 and the largest gain since the first quarter of 2005.

Analysts say the industrial sector is leading the economic recovery, as consumer spending and other areas of the economy lag.