Yahoo Finance U.S. Industrial Production Edges Up in September, Matching Forecasts
Investing.com – Industrial and manufacturing production in the U.S. rose in line with expectations in September, rebounding from a previous decline supporting optimism over the health of the economy, official data showed on Tuesday.
In a report, the Federal Reserve said that industrial production increased by 0.3% from the previous month, in line with expectations and compared to a decline of 0.7% in August that was revised from an initial 0.9% decrease.
Meanwhile, manufacturing production increased by a seasonally adjusted 0.1% last month, also in line with forecasts and following the 0.2% drop registered in August that was revised upwards from an initial decline of 0.3%.
The report also showed that the capacity utilization rate, a measure of how fully firms are using their resources, settled at 76.0% in September, worse than the forecast for a reading of 76.2%.
The prior month was revised down to 75.8% from 76.1%.
Following the report, EUR/USD trading at 1.1749 from around 1.1748 ahead of the release of the data, GBP/USD was at 1.3185 from 1.3177 previously, while USD/JPY traded at 112.36 versus 112.42 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 93.47 compared to 93.50 before the report.
Meanwhile, U.S. stock futures pointed to a mixed open. The Dow futures gained 19 points, or 0.08%, the S&P 500 futures slipped 2 points, or 0.09%, while the Nasdaq 100 futures edged down 8 points, or 0.12%.
Elsewhere, in the commodities market, gold futures changed hands at $1,287.93, compared to $1,287.12 prior to the release, while crude oil traded at $51.89, compared to 52.03 ahead of the report.
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U.S. Industrial Production Edges Up in September, Matching Forecasts
