Investing.com – U.S. industrial production rose in May at a faster rate than forecast, official data showed on Wednesday.
In a report, the U.S. Federal Reserve said industrial output climbed 1.2% during the month, up from 0.7% growth in April, whose figure was revised down from 0.8%.
Economists had expected a more modest increase of 0.9% in May.
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.23% to reach 1.2302.
In a report, the U.S. Federal Reserve said industrial output climbed 1.2% during the month, up from 0.7% growth in April, whose figure was revised down from 0.8%.
Economists had expected a more modest increase of 0.9% in May.
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.23% to reach 1.2302.