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According to the monthly  Industrial Production and Capacity Utilization report published by the Federal Reserve, industrial production in the United States contracted by 0.4% on a monthly basis in September following    August’s expansion of 0.8% and came in worse than the market expectation of -0.1%.

“For the third quarter, industrial production rose at an annual rate of 1.2% following declines of about 2% in both the first and the second quarters,” the Fed noted in its publication. “Manufacturing production decreased 0.5% in September, with output reduced by a strike at a major manufacturer of motor vehicles.”

Finally, the capacity utilization edged lower to 77.5% in the same period from 77.9% in August.

The Greenback continues to have a tough time recovering its daily losses against its major rivals after this data. As of writing, the US Dollar Index was down 0.32% on the day at 97.70.