US Industrial Production: March data above expectations - ING
US Industrial Production rose 0.5% in March above the 0.4% expected. James Knightley, Senior Economist at ING, points out that industrial output data continues to impress, making a strong positive contribution to the economy.
Key Quotes:
“US industrial production has beaten expectations again, rising 0.5% MoM in March versus the consensus forecast of 0.3%. This follows a 1% rise in February.”
“The outlook remains positive given the robust domestic economy and a competitive exchange rate that allows US exporters to really benefit from the upturn in global demand.”
“It is important to remember that manufacturing output is still 5% lower than a decade ago while manufacturing employment is down 7.5%.”
“Trade tensions remain a clear risk while problems obtaining commodities (aluminium market in particular following an extension of Russian sanctions) could create bottlenecks in the near term.”
Author
Matías Salord
FXStreet
Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.
