US industrial production data for January was released today at 2:15 pm GMT. Report was expected to show an increase in industrial production as well as flat manufacturing production. Capacity utilization was expected to improve slightly compared to a month ago.
Actual report turned out to be a disappointment, just as was the case with retail sales data earlier today. Industrial and manufacturing production dropped compared to a month ago, while capacity utilization deteriorated instead of improving.
US industrial production report for January
- Industrial production (monthly): -0.1% MoM vs +0.3% MoM expected (+0.1% MoM previously)
- Industrial production (annual): vs +1.0% previously
- Manufacturing production (monthly): -0.5% MoM vs 0.0% MoM expected (+0.1% MoM previously)
- Capacity utilization: 78.5% vs 78.8% expected (78.6% previously)
USD weakened following industrial production print. However, EURUSD continues to trade below highs reached following release of disappointing retail sales data.
Source: xStation5
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