US industrial production slows down in February

FXStreet (Mumbai) - The official data released in the US today showed the industrial production expanded 0.1% in February, compared to the estimate of 0.2% expansion. The industrial production was revised lower to -0.3% in January.

Capacity utilization inched higher to 78.9%, beating the estimate of 79.5%, and up from 79.1% seen in January. Meanwhile, manufacturing production contracted 0.2% against the expectation of 0.1% growth. The January’s print was revised lower to -0.3%. The mining sector led the way lower with decline in Coal, Oil and Gas drilling, while utilities production rose.