US: Industrial Production expands by 0.4% in August vs. 0.5% expected
- Industrial Production in US rose modestly in August.
- US Dollar Index stays around mid-92.00s after the data.
Industrial Production in the United States expanded by 0.4% on a monthly basis in August, the data published by the US Federal Reserve revealed on Wednesday. This print followed July’s increase of 0.8% (revised from 0.9%) and came in slightly weaker than the market expectation of 0.5%.
“Late-month shutdowns related to Hurricane Ida held down the gain in industrial production by an estimated 0.3 percentage point.”
“Although the hurricane forced plant closures for petrochemicals, plastic resins, and petroleum refining, overall manufacturing output rose 0.2%.”
“Capacity utilization for the industrial sector rose 0.2 percentage point in August to 76.4%, a rate that is 3.2 percentage points below its long-run (1972–2020) average.”
Market reaction, Industrial Production
The US Dollar Index largely ignored these figures and was last seen losing 0.14% on the day at 90.52.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. WAVESSCOUTFOREX does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of WAVESSCOUTFOREX nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from WAVESSCOUTFOREX .
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. WAVESSCOUTFOREX and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and WAVESSCOUTFOREX are not registered investment advisors and nothing in this article is intended to be investment advice.