US Industrial Production expands 0.3% in June vs. 0.1% expected

• Industrial Production in the US expanded at a faster rate than expected in June.
• The US Dollar Index holds above 98.50 after the data.

Industrial Production in the United States (US) expanded by 0.3% on a monthly basis in June, the data published by the Federal Reserve showed on Wednesday. This reading followed the 0.2% contraction recorded in May and came in better than the market expectation for an expansion of 0.1%.

Other details of the report showed that manufacturing output rose by 0.1% in this period. Meanwhile, the Capacity Utilization improved to 77.6% from 77.4% in May.

Market reaction

The US Dollar Index stays in positive territory above 98.50 after this report.