US: Industrial Production contracts by 0.2% in August vs. +0.2% expected
|- Industrial Production in the US contracted unexpectedly in August.
- US Dollar Index stays near the lower limit of its daily range.
The data published by the US Federal Reserve showed on Thursday that Industrial Production contracted by 0.2% on a monthly basis in August. This print came in worse than the market expectation for an expansion of 0.2%. In the same period, Manufacturing Production increased by 0.1% following July's growth of 0.6%.
"Capacity utilization declined 0.2 percentage points in August to 80.0%, a rate that is 0.4 percentage points above its long-run (1972–2021) average," the Fed further noted in its publication.
Market reaction
The US Dollar Index showed no immediate reaction to these figures and was last seen posting small daily losses at 109.58.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.