US Industrial production down by 0.6%

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Wednesday, Apr 15 2015

Industrial production decreased 0.6% in March after increasing 0.1% in February, thus missing predictions on 0.3% decline. For the first quarter of 2015 as a whole, industrial production declined at an annual rate of 1.0%, the first quarterly decrease since the second quarter of 2009. The decline last quarter resulted from a drop in oil and gas well drilling and servicing of more than 60 percent at an annual rate and from a decrease in manufacturing production of 1.2%.

At 105.2% of its 2007 average, total industrial production in March was 2.0% above its level of a year earlier. Capacity utilization for the industrial sector decreased 0.6 percentage point in March to 78.4%, a rate that is 1.7 percentage points below its long-run (1972–2014) average.

After the data USD was pushed lower. Euro is currently being traded slightly above 1.06 handle, Sterling is around 1.4770 area, while Aussie is at 0.7620 level. Later today, Industrial Production figures are scheduled for a release.

More in this category: « ECB sticks to its program Australian employment up in March »

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