- Industrial Production in the US contracted in September.
- US Dollar Index trades with modest losses near 93.60.
Industrial Production in the United States contracted by 0.6% on a monthly basis in September, the US Federal Reserve reported on Friday. This reading missed the market expectation for an expansion of 0.5% by a wide margin.
"Although production has recovered more than half of its February to April decline, the September reading was still 7.1% below its pre-pandemic February level."
"Manufacturing output decreased 0.3% in September and was 6.4% below February's level."
"Capacity utilization for the industrial sector decreased 0.5 percentage point in September to 71.5%, a rate that is 8.3 percentage points below its long-run (1972–2019) average but 7.3 percentage points above its low in April."
The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.15% on a daily basis at 93.64.
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