US: Industrial production expanded by 0.4% in May following April's 0.4% contraction

Eren Sengezer FXStreet

Industrial production in the U.S. rebounded in May following April's dismal reading of -0.4% and expanded by 0.4% in May according to the monthly data published by the Federal Reserve. Further details of the report revealed that the capacity utilization in the same period improved to 78.1% from 77.9% to beat the market expectation of 78%.

Supported by the upbeat retail sales figures and the industrial production numbers, the US Dollar Index extended its daily upside and was last seen at 97.35, adding 0.32% on the day.

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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