The U.S. industrial production data for the month of August were published just a few minutes ago. Surprisingly, the data came in below market expectations as the gauge rose 0.4% MoM (previously: 3.0%). Below we present the exact figures:
Industrial Production in August: 0.4% MoM (vs expected: 1.0% MoM)
Contrary to disappointing industrial production data, the NY Empire State Manufacturing Index (published just 30 minutes earlier) did surprisingly well. The index rose in September to 17.0 pts while markets anticipated that it would amount to 6.80 pts. Shortly after the release S&P 500 futures caught a bid and added some gains.
U.S. industrial production rose for the fourth consecutive month. Source: Macrobond, XTB Research