Investing.com – Industrial production in the U.S. declined unexpectedly in November, official data showed on Thursday.
In a report, the U.S. Federal Reserve said that industrial production fell by a seasonally adjusted 0.2% in November, confounding expectations for a 0.3% gain.
Industrial production in October rose by an unrevised 0.7%.
Year-over-year, industrial production rose at an annualized rate of 3.7% in November, after increasing at a rate of 3.9% in October.
The report showed that the capacity utilization rate dipped to 77.8% from 78.0% in October, whose figure was revised up from 77.8%.
Analysts had expected the capacity utilization rate to fall to 77.9%.
Following the release of the data the U.S. dollar remained lower against the euro, with EUR/USD rising 0.42% to trade at 1.3037.
Meanwhile, stock index futures held on to gains following the data. The Dow Jones Industrial Average futures pointed to a rise of 1%, S&P 500 futures climbed 1.1%, while the Nasdaq 100 futures indicated a gain of 0.85%.
In a report, the U.S. Federal Reserve said that industrial production fell by a seasonally adjusted 0.2% in November, confounding expectations for a 0.3% gain.
Industrial production in October rose by an unrevised 0.7%.
Year-over-year, industrial production rose at an annualized rate of 3.7% in November, after increasing at a rate of 3.9% in October.
The report showed that the capacity utilization rate dipped to 77.8% from 78.0% in October, whose figure was revised up from 77.8%.
Analysts had expected the capacity utilization rate to fall to 77.9%.
Following the release of the data the U.S. dollar remained lower against the euro, with EUR/USD rising 0.42% to trade at 1.3037.
Meanwhile, stock index futures held on to gains following the data. The Dow Jones Industrial Average futures pointed to a rise of 1%, S&P 500 futures climbed 1.1%, while the Nasdaq 100 futures indicated a gain of 0.85%.