- Industrial Production in US expanded at a softer pace than expected in March.
- US Dollar Index continues to move sideways above 91.60.
Industrial Production in the United States expanded by 1.4% on a monthly basis in March, the US Federal Reserve reported on Thursday. This reading followed February’s contraction of 2.6% and came in weaker than the market expectation for an increase of 2.8%.
Additional takeaways
“For the first quarter as a whole, total industrial production rose 2.5% at an annual rate.”
“In March, manufacturing production and mining output increased 2.7% and 5.7%, respectively.”
“Capacity utilization for the industrial sector increased 1.0 percentage point in March to 74.4%, a rate that is 5.2 percentage points below its long-run (1972-2020) average.”
Market reaction
This report doesn’t seem to be having a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was up 0.05% on the day at 91.67.
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