United States Industrial Production expands 0.7% in April
Source Fxstreet
- Industrial Production in the US grew at a stronger pace than expected in April.
- The US Dollar Index clings to daily gains above 99.00.
Industrial Production in the United States (US) expanded by 0.7% on a monthly basis in April, the Federal Reserve (Fed) reported on Friday. This print followed the 0.3% contraction reported in March and came in better than the market expectation for an increase of 0.3%.
"In April, manufacturing output rose 0.6 percent, the index for mining ticked down 0.1 percent, and utilities output moved up 1.9 percent," the Fed noted in its press release. "Capacity utilization moved up to 76.1 percent, a rate that is 3.3 percentage points below its long-run (1972–2025) average."
Market reaction
The US Dollar (USD) preserves its strength in the American session on Friday. At the time of press, the USD Index was up 0.35% on the day at 99.20.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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