US: Industrial Production expands by 0.9% in January vs. 0.5% expected

• Industrial Production in US continued to expand at a robust pace in January.
• US Dollar Index clings to gains around 91.00 after the data.

Industrial Production in the United States expanded by 0.9% on a monthly basis in January, the US Federal Reserve reported on Wednesday. This reading followed December's increase of 1.3% and came in better than the market expectation of 0.5%. 

Additional takeaways

"Manufacturing output rose 1.0%, about the same as its average gain over the previous five months."

"Capacity utilization for the industrial sector increased 0.7% in January to 75.6%, a rate that is 4.0% below its long-run (1972–2020) average."

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.5% on the day at 90.97.