US Industrial Production Rises in June

U.S. industrial production rose more than expected in June on large gains in automotive manufacturing and utility output, the Federal Reserve said on Friday, a sign that the economy was regaining momentum at the end of the second quarter.

Industrial output increased 0.6 percent last month, the strongest gain since July 2015, after an upwardly revised 0.3 percent decline in May.

Economists polled by Reuters had forecast industrial production rising 0.2 percent last month.

The industrial sector measured by the U.S. central bank comprises manufacturing, mining, and electric and gas utilities.

It has shown halting signs of improvement after a downturn over the past 18 months caused by weak global demand, a strong dollar and the fall in oil prices.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza