US: Industrial Production contracts by 0.1% in October

Industrial Production in the US contracted modestly in October.
US Dollar Index stays in negative territory above 106.00.

Eren Sengezer FXStreet

Industrial Production in the United States (US) contracted by 0.1% on a monthly basis in October, the US Federal Reserve announced on Wednesday. This reading followed September's increase of 0.1% and came in worse than the market expectation for an expansion of 0.2%.

"Capacity utilization decreased 0.2 percentage point in October to 79.9%, a rate that is 0.3 percentage point above its long-run (1972–2021) average," the publication further read.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.32% on the day at 106.23.

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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