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US Industrial Production missed market forecasts

Wednesday, Nov 16 2016
US Industrial Production missed market forecasts

Industrial production was unchanged in October after decreasing 0.2 percent in September. Although the level of industrial production in September was the same as the previous estimate, revisions to the index for utilities raised the rate of change in total industrial production in August and lowered it in September. In October, manufacturing output increased 0.2 percent, and mining posted a gain of 2.1 percent for its largest increase since March 2014.

The index for utilities dropped 2.6 percent, as warmer-than-normal temperatures reduced the demand for heating. At 104.3 percent of its 2012 average, total industrial production in October was 0.9 percent lower than its year-earlier level. Capacity utilization for the industrial sector edged down 0.1 percentage point in October to 75.3 percent, a rate that is 4.7 percentage points below its long-run (1972–2015) average.

 

Euro is currently being traded around 1.0680 area, Sterling is at 1.2460 level, while Aussie is around 0.75 handle.

More in this category: « US PPI unchanged in October Australian Unemployment Rate fell to 5.6% »

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