Industrial Production in the US contracted modestly in October.
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- Industrial Production in the US contracted modestly in October.
- US Dollar Index stays in negative territory above 106.00.
Industrial Production in the United States (US) contracted by 0.1% on a monthly basis in October, the US Federal Reserve announced on Wednesday. This reading followed September’s increase of 0.1% and came in worse than the market expectation for an expansion of 0.2%.
“Capacity utilization decreased 0.2 percentage point in October to 79.9%, a rate that is 0.3 percentage point above its long-run (1972–2021) average,” the publication further read.
The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.32% on the day at 106.23.
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