US Industrial Production rises 0.9% in May vs. 0.3% expected
|- Industrial Production in the US grew at a stronger pace than expected in May.
- The US Dollar Index stays in daily range below 105.50.
Industrial Production in the US grew 0.9% on a monthly basis in May, the US Federal Reserve (Fed) reported on Tuesday. This reading came in better than the market expectation for an increase of 0.3%.
"Manufacturing output posted a similar gain of 0.9% after declining in the previous two months," the Fed noted in its press release. "At 103.3% of its 2017 average, total industrial production in May was 0.4% higher than its year-earlier level. Capacity utilization moved up to 78.7% in May, a rate that is 0.9 percentage point below its long-run (1972–2023) average."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen trading virtually unchanged on the day at 105.34.
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.