Investing.com - Industrial production in the U.S. was unexpectedly flat in January, official data showed on Wednesday.
In a report, the U.S. Federal Reserve said that industrial production was flat in January, confounding expectations for a 0.7% increase.
Industrial production for December was revised up to a 1.0% gain from a previously reported 0.4% increase.
Year-over-year, industrial production rose at an annualized rate of 3.4% last month, after increasing at a rate of 2.9% in December.
The report showed that the capacity utilization rate rose 78.5% in January, below expectations for 78.6%. December’s figure was revised up to 78.6% from a previously reported 78.1% increase.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.23% to trade at 1.3103.
Meanwhile, U.S. stock index futures pointed to an upbeat open. The Dow Jones Industrial Average futures pointed to a gain of 0.3%, S&P 500 futures rose 0.5%, while the Nasdaq 100 futures indicated a gain of 0.6%.
In a report, the U.S. Federal Reserve said that industrial production was flat in January, confounding expectations for a 0.7% increase.
Industrial production for December was revised up to a 1.0% gain from a previously reported 0.4% increase.
Year-over-year, industrial production rose at an annualized rate of 3.4% last month, after increasing at a rate of 2.9% in December.
The report showed that the capacity utilization rate rose 78.5% in January, below expectations for 78.6%. December’s figure was revised up to 78.6% from a previously reported 78.1% increase.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.23% to trade at 1.3103.
Meanwhile, U.S. stock index futures pointed to an upbeat open. The Dow Jones Industrial Average futures pointed to a gain of 0.3%, S&P 500 futures rose 0.5%, while the Nasdaq 100 futures indicated a gain of 0.6%.