- Industrial Production in US expanded at a better pace than expected in November.
- US Dollar Index posts modest daily gains above 97.20 after data.
Industrial Production expanded by 1.1% in November following October’s contraction of 0.9%, the data published by the Federal Reserve showed on Tuesday. This reading came in better than the market expectation for an increase of 0.8%.
With the initial reaction, the US Dollar Index inched higher and was last up 0.1% on the day at 97.22.
Underlying details of the publication revealed that Manufacturing Production also rose 1.1% in the same period. “Total industrial production was 0.8% lower in November than it was a year earlier. Capacity utilization for the industrial sector increased 0.7 percentage point in November to 77.3%, a rate that is 2.5 percentage points below its long-run (1972-2018) average.”
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