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U.S. industrial production falls 0.1% in August

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Investing.com -

Investing.com - Industrial production in the U.S. declined for the first time in four months in August, dampening optimism over the economic outlook, official data showed on Monday.

In a report, the Federal Reserve said that industrial production fell by a seasonally adjusted 0.1% last month, disappointing forecasts for a 0.3% gain.

Industrial production for July was revised down to a gain of 0.2% from a previously reported increase of 0.4%.

The report showed that the capacity utilization rate, a measure of how fully firms are using their resources, dipped to 78.8% in August from 79.1% in July, compared to expectations for a reading of 79.3%.

EUR/USD was trading at 1.2926 following the release of the data, from 1.2918 ahead of the report, while GBP/USD was at 1.6240, compared to 1.6235 earlier.

Meanwhile, U.S. equity markets pointed to a modestly higher open. The Dow 30 indicated a gain of 0.1%, the S&P 500 pointed to a rise of 0.1%, while the NASDAQ 100 indicated an increase of 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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