US: Industrial Production expands by 0.4% in August vs. 1% expected
|- Industrial Production in US expanded at a softer pace than expected in August.
- US Dollar Index remains in the negative territory below 93.00.
Industrial Production in the United States expanded by 0.4% on a monthly basis in August, the US Federal Reserve reported on Tuesday. This reading followed July's increase of 3.5% (revised from 3%) and came in worse than the market expectation of 1%.
Additional takeaways
"Manufacturing output continued to improve in August, rising 1.0% but the gains for most manufacturing industries have gradually slowed since June."
"Capacity utilization for the industrial sector increased 0.3 percentage point in August to 71.4%, a rate that is 8.4 percentage points below its long-run (1972–2019) average but 7.3 percentage points above its low in April."
Market reaction
The US Dollar Index largely ignored these figures and was last seen losing 0.18% on the day at 92.88.
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