In its monthly publication titled ‘Industrial Production and Capacity Utilization’, the Federal Reserve reported that industrial production in April fell 0.5%. ” Output is now reported to have declined 1.9% at an annual rate in the first quarter,” the Fed noted. “Manufacturing production moved down 0.5% in April after being unchanged in March.”
Further details of the report revealed that capacity utilization declined to 77.9% from 78.5% in March.
The greenback ignored the data and the US Dollar Index was last up 0.15% on the day at 97.66.
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