The US industrial production fell 0.6% month-on-month in Julyafter rising 0.3% in June (revised downwards from +0.6%), according to the Federal Reserve. This is the first drop recorded by the indicator in six months. The decline has worsened expectations, as a 0.3% drop was expected.
On the other hand, the Capacity utilization fell to 77.8% in July from 78.4% in the previous month, falling below the estimated 78.5%. This is its lowest level in 34 months, since September 2021.
Economic indicator
Industrial production (MoM)
The Federal Reserve The U.S. central bank is responsible for publishing industrial production data. It shows the production volume of U.S. industries. An upward trend is considered inflationary and could anticipate future increases in interest rates. If industrial production growth is higher than the market consensus, this could be bullish for the dollar, while growth below expectations would be bearish.
Latest Post: Thu Aug 15, 2024 1:15 PM
Frequency: Monthly
Current: -0.6%
Dear: -0.3%
Previous: 0.6%
Fountain: Federal Reserve
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
