US Industrial Production rises 0.4% in March as expected

Source Fxstreet
Apr 16, 2024 13:24
  • Industrial Production in the US continued to expand at a moderate pace.
  • US Dollar Index continues to fluctuate above 106.00.

Industrial Production in the US grew 0.4% on a monthly basis in March, the US Federal Reserve (Fed) reported on Tuesday. This reading followed the 0.4% increase recorded in February and came in line with the market expectation.

"Manufacturing output increased 0.5% in March, boosted in part by a gain of 3.1% in motor vehicles and parts; factory output excluding motor vehicles and parts moved up 0.3%," the Fed said in its press release. "Capacity utilization moved up to 78.4% in March, a rate that is 1.2 percentage points below its long-run (1972–2023) average."

Market reaction

The US Dollar showed no immediate reaction to this report. At the time of press, the US Dollar Index was up 0.1% on the day at 106.27.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
UK Preliminary Services PMI declines to 52.9 in May vs. 54.7 expectedThe seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rebounded from 49.1 in April to 51.3 in May, beating 49.5 expectations.
Source  Fxstreet
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rebounded from 49.1 in April to 51.3 in May, beating 49.5 expectations.
placeholder
USTR: Further action required beyond tariff changes to address China's unfair policiesUnited States Trade Representative Katherine Tai announced on Tuesday that she will be proposing modifications to China tariffs and will continue to work with partners to continue to expand opportunities for US workers and manufacturers, per Reuters.
Source  Fxstreet
United States Trade Representative Katherine Tai announced on Tuesday that she will be proposing modifications to China tariffs and will continue to work with partners to continue to expand opportunities for US workers and manufacturers, per Reuters.
placeholder
UK Unemployment Rate rises to 4.3% in three months to March as forecastThe UK's Office for National Statistics reported on Tuesday that the ILO Unemployment Rate edged higher to 4.3% in the three months to March from 4.2%.
Source  Fxstreet
The UK's Office for National Statistics reported on Tuesday that the ILO Unemployment Rate edged higher to 4.3% in the three months to March from 4.2%.
goTop
quote