Investing.com - Industrial production in the U.S. was flat in July, confounding expectations for a modest increase, official data showed on Thursday.
In a report, the U.S. Federal Reserve said that industrial production was flat in July, compared to forecasts for a 0.3% gain.
Industrial production figures for June were revised down to a 0.2% increase from a previously reported gain of 0.3%.
The report showed that the capacity utilization rate, a measure of how fully firms are using their resources, declined to 77.6% in July from 77.6% in June. Analysts had expected the capacity utilization rate to rise to 77.9%.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.13% to trade at 1.3238.
Meanwhile, U.S. stock future indices pointed to a lower open. The Dow Jones Industrial Average futures fell 0.75%, S&P 500 futures declined 0.75%, while the Nasdaq 100 futures pointed to a loss of 0.9% at the open.
In a report, the U.S. Federal Reserve said that industrial production was flat in July, compared to forecasts for a 0.3% gain.
Industrial production figures for June were revised down to a 0.2% increase from a previously reported gain of 0.3%.
The report showed that the capacity utilization rate, a measure of how fully firms are using their resources, declined to 77.6% in July from 77.6% in June. Analysts had expected the capacity utilization rate to rise to 77.9%.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.13% to trade at 1.3238.
Meanwhile, U.S. stock future indices pointed to a lower open. The Dow Jones Industrial Average futures fell 0.75%, S&P 500 futures declined 0.75%, while the Nasdaq 100 futures pointed to a loss of 0.9% at the open.