Washington — US industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter. Other data on Tuesday showed job openings hit a record high in August, far outpacing a rise in hiring, suggesting that companies were increasingly being starved of workers. There are concerns that the worker shortage, especially in manufacturing and construction industries, could hinder economic growth. “Companies need more workers than the economy has to give and this is going to lead to a slowdown in economic growth somewhere down the road,” said Chris Rupkey, chief economist at MUFG in New York. The Federal Reserve said industrial production rose 0.3% last month after increasing 0.4% in August. Economists polled by Reuters had forecast industrial output rising 0.2% in September. Industrial production Industrial production grew at a 3.3% annualised rate in the third quarter, decelerating fro...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now