Investing.com – Industrial production in the U.S. rose more-than-expected in October, official data showed on Wednesday.
In a report, the U.S. Federal Reserve said that industrial production rose by a seasonally adjusted 0.7% in October, beating expectations for a 0.4% gain.
Industrial production in September was revised down to a decline of 0.1% from a previously reported 0.2% increase.
Year-over-year, industrial production rose at an annualized rate of 3.9% in October, after increasing at a rate of 3.2% in September.
The report showed that the capacity utilization rate rose to 77.8%, just above expectations for a 77.7% gain.
The previous month’s figure was revised down to 77.3% from 77.4%.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.45% to trade at 1.3479.
Meanwhile, U.S. stock index futures remained lower following the data. The Dow Jones Industrial Average futures indicated a drop of 0.95%, S&P 500 futures fell 1.05%, while the Nasdaq 100 futures declined 0.8%.
In a report, the U.S. Federal Reserve said that industrial production rose by a seasonally adjusted 0.7% in October, beating expectations for a 0.4% gain.
Industrial production in September was revised down to a decline of 0.1% from a previously reported 0.2% increase.
Year-over-year, industrial production rose at an annualized rate of 3.9% in October, after increasing at a rate of 3.2% in September.
The report showed that the capacity utilization rate rose to 77.8%, just above expectations for a 77.7% gain.
The previous month’s figure was revised down to 77.3% from 77.4%.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.45% to trade at 1.3479.
Meanwhile, U.S. stock index futures remained lower following the data. The Dow Jones Industrial Average futures indicated a drop of 0.95%, S&P 500 futures fell 1.05%, while the Nasdaq 100 futures declined 0.8%.