- Industrial production in the US rose more than expected in August.
- Capacity utilization in the same period improved to 77.9%.
- US Dollar Index stays in daily range after upbeat data.
In its monthly report, the Federal Reserve on Tuesday said that industrial production in August rose 0.6% following July’s 0.2% contraction compared to analysts’ estimate for an increase of 0.2%.
The US Dollar Index, which tracks the dollar’s value against a basket of six major currencies, paid little to no mind to the data and was last down 0.04% on the day at 98.60.
“Manufacturing production increased 0.5%, more than reversing its decrease in July,” the Fed noted in its publication. “Capacity utilization for the industrial sector increased 0.4% in August to 77.9%, a rate that is 1.9% points below its long-run (1972-2018) average.”
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