US industrial output rises by most since Nov '12

Washington

US INDUSTRIAL production posted the biggest gain in nearly two years in September as factory activity quickened and utilities output logged a big-weather related jump, a welcome sign on the pace of the economy's recovery.

Output at the nation's mines, factories and utilities increased 1.0 per cent after slipping 0.2 per cent in August, the Federal Reserve said on Thursday. It was the biggest rise since Nov 2012 and handily outstripped the 0.4 per cent gain expected on Wall Street.