- US: Industrial Production contracts 0.5% in June vs. 0% expected
Market news
18 July 2023
US: Industrial Production contracts 0.5% in June vs. 0% expected
- Industrial Production in the US continued to decline in June.
- US Dollar Index stays in daily range below 100.00 after the data.
Industrial Production in the US contracted 0.5% for the second straight month in June, the US Federal Reserve reported on Tuesday. This reading came in weaker than the market expectation for a no-change.
"Manufacturing output moved down 0.3% in June but rose 1.5% in the second quarter," the press release further read. "Capacity utilization stepped down to 78.9% in June, a rate that is 0.8 percentage point below its long-run (1972–2022) average."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen trading flat on the day slightly below 100.00.
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