- Industrial production falls 0.2% in June.
- Utilization of installed capacity drops to 80%.
- The dollar remains in negative territory.
The industrial production in the United States had a contraction in June of 0.2%, the data was below the market consensus which was for an increase of 0.1%. In May it remained unchanged with respect to the previous month, which implies a negative revision after initially reporting a rise of 0.2%.
Capacity utilization fell from 80.3% to 80.0%, which was surprising as an increase to 80.6% was expected.
The industrial production data cut with a streak that came on Friday from numbers above expectations, such as that of retail sales and the Manufacturing Empire. There is still the consumer confidence report from the University of Michigan.
The dollar is falling on Friday, cutting a part of the weekly gains across the market. The recent data contributed to speculation that the Federal Reserve will raise interest rates by 100 basis points at its July meeting.
Source: Fx Street
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