US Industrial Production contracts by 0.1% in July

Industrial Production in the US contracted in July.
The US Dollar Index stays in negative territory below 98.00.

Eren Sengezer FXStreet

Industrial Production in the United States (US) contracted by 0.1% on a monthly basis in July, the data published by the Federal Reserve (Fed) showed on Friday. This reading followed the 0.4% increase recorded in June and came in worse than the market expectation for no change.

"Manufacturing output was unchanged after increasing 0.3 percent in June," the Fed noted in its press release. "Capacity utilization moved down to 77.5 percent in July, a rate that is 2.1 percentage points below its long-run (1972–2024) average."

Market reaction

The US Dollar Index remains in the lower half of its daily range after these data and was last seen losing 0.28% on the day at 97.90.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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