- Industrial Production in the US expanded more than expected in October.
- US Dollar Index stays in the negative territory after the data.
Industrial Production in the United States expanded by 1.1% on a monthly basis in October, the US Federal Reserve reported on Tuesday. This reading came in slightly better than the market expectation of 1% and followed September’s 0.4% contraction.
Additional takeaways
“After edging up 0.1% in September, manufacturing output increased 1.0% in October.”
“Capacity utilization for the industrial sector increased 0.8 percentage point in October to 72.8%.”
Market reaction
The US Dollar Index recovered modestly from session lows and was last seen losing 0.3% on the day at 92.37.
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