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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