American industrial production increases by 0.7 % in February, compared to 0.2 % expected

• Industrial production in the United States grew at a faster pace than expected in February.
• The US dollar index connects the marginal gains at about 103.50.

Industrial production in the United States was expanded by 0.7 % on a monthly basis in February, the Federal Reserve said on Tuesday. This reading followed the amount of 0.3 % recorded in January, and the market’s expectations were better compared to 0.2 % growth.

“The manufacturing output increased by 0.9 %, supported by a jump by 8.5 % in the auto and spare parts index,” the Federal Reserve Bank said in its press statement. “The use of the capacity has risen to 78.2 %, which is a rate of 1.4 degrees Celsius less than its long-term average (1972-2024).”

Market reaction

The US dollar index (USD) carries its land after this report and the last time was seen 0.13 % a day at 103.55.