U.S. industrial production fell 1.1% in September, marking the 12th consecutive down month. Following a 0.9% drop in August, this is the longest period of U.S. industrial decline since a period during World War II between November 1944 and October 1945.

The U.S. Federal Reserve report shows U.S. manufacturers operated at only 73.8% of capacity, the lowest utilization level since June 1983. It was 82.5% in September 2000. By comparison, industrial capacity utilization averaged 82.1% between 1967 and 2000.

Manufacturing of durable goods - expected to last three years or longer - was hardest hit, falling another fell 1.8% in September. Nondurable goods production fell only 0.3%.