The industrial production in the United States expanded 0.7% during the month of Aprilthe Federal Reserve reported on Friday. This reading followed the March increase of 2.4% (revised from 1.4%) and was below the market consensus of a 1% rise.
The manufacturing index rose 0.4% “despite a drop in motor vehicle assemblies that was mainly due to a shortage of semiconductors,” the report read.
The utilization capacity for the industrial sector increased 0.5 percentage points in April to 74.9%, a rate that is 4.7 percentage points below its long-term average (1972-2020).
The dollar was unaffected by the data and continued to trade in negative territory for the day, with the DXY below 90.30. Earlier on Friday, a lower-than-expected reading was known in retail sales for April.
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