Investing.com - Industrial production in the U.S. rose more-than-expected in May, easing concerns over the economic outlook, official data showed on Monday.
In a report, the U.S. Federal Reserve said that industrial production rose by a seasonally adjusted 0.6% last month, above forecasts for a 0.5% gain.
Industrial production for April was revised to a 0.3% decline from a previously reported drop of 0.6%.
The report showed that the capacity utilization rate, a measure of how fully firms are using their resources, inched up to 79.1% in May, compared to expectations for a reading of 78.9% and up from 78.9% in April.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD rising 0.13% to trade at 1.3559.
Meanwhile, the outlook for U.S. equity markets remained lower. The Dow futures indicated a loss of 0.25% at the open, the S&P 500 futures dipped 0.15%, while the Nasdaq 100 futures indicated a decline of 0.15%.
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