US: Industrial Production declined 0.8% in October vs. -0.4% expected
|The monthly data published by the Federal Reserve showed that Industrial Production in the US declined 0.8% in October following September's 0.3% contraction and came in worse than the market expectation for a decrease of 0.4%. Further details of the report revealed that Capacity Utilization in the same period fell to 76.7% from 77.5%.
"Manufacturing production decreased 0.6% in October. Much of this decline was due to a drop of 7.1% in the output of motor vehicles and parts that resulted from a strike at a major manufacturer of motor vehicles," the publication read.
The US Dollar Index seems to be staying under pressure following this data and was last down 0.12% on the day at 98.03.
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