US: Industrial Production declined 0.2% in July to miss market estimate of +0.2%
|- US industrial production declined 0.2% in July on a monthly basis.
- US Dollar Index stays in upper-half of its daily range.
The monthly data published by the Board of Governors of the Federal Reserve System, industrial production declines 0.2% on a monthly basis in July to come in worse than the market expectation for a growth of 0.2%.
"Manufacturing output decreased 0.4% last month and has fallen more than 1-1/2% since December 2018," the press release read. "Capacity utilization for the industrial sector decreased 0.3% point in July to 77.5 %, a rate that is 2.3% below its long-run (1972–2018) average."
The Greenback ignored the disappointing production data and the US Dollar Index continues to move sideways near the 98 mark.
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