US: Industrial Production expands by 1.1% in October vs. 1% expected

• Industrial Production in the US expanded more than expected in October.
• US Dollar Index stays in the negative territory after the data.

Industrial Production in the United States expanded by 1.1% on a monthly basis in October, the US Federal Reserve reported on Tuesday. This reading came in slightly better than the market expectation of 1% and followed September's 0.4% contraction.

Additional takeaways

"After edging up 0.1% in September, manufacturing output increased 1.0% in October."

"Capacity utilization for the industrial sector increased 0.8 percentage point in October to 72.8%."

Market reaction

The US Dollar Index recovered modestly from session lows and was last seen losing 0.3% on the day at 92.37.