- US industrial production continued to grow at a moderate pace.
- The US Dollar Index continues to fluctuate above 106.00.
United States industrial production grew 0.4% monthly in March, the US Federal Reserve (Fed) reported on Tuesday. This reading followed the 0.4% increase recorded in February and was in line with market expectations.
“Manufacturing production rose 0.5% in March, driven in part by a 3.1% increase in motor vehicles and parts; factory output, excluding motor vehicles and parts, rose by 0.3%,” the Fed said in its press release.
“Capacity utilization rose to 78.4% in March, a rate that is 1.2 percentage points below its long-term average (1972-2023).” The data is below the estimated 78.5% and above the 78.2% of the previous month.
Market reaction
The US dollar did not show an immediate reaction to this report. At the time of writing, the US Dollar Index is up 0.1% and stands at 106.27.
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.
