US: Industrial Production declines by 0.2% in June vs. +0.1% expected
- Industrial Production in the US unexpectedly contracted in June.
- US Dollar Index stays in negative territory below 108.50.
Industrial Production in the US contracted by 0.2% on a monthly basis in June, the US Federal Reserve reported on Friday. This reading came in weaker than the market expectation for an expansion of 0.1%.
"Manufacturing output declined 0.5% for a second consecutive month in June; even so, it rose at an annual rate of 4.2% in the second quarter," the Fed further added in its press release. "Capacity utilization decreased 0.3 percentage point in June to 80.0%, a rate that is 0.4 percentage point above its long-run (1972–2021) average."
Market reaction
The US Dollar Index stays in negative territory at around 108.20 after this report.
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.
