US: Industrial Production declined 11.2% in April vs. -11.5 expected

• Industrial Production in the US contracted by a record pace in April.
• US Dollar Index stays above 100 after the data.

Industrial Production in the US fell 11.2% in April to record its largest monthly drop, the data published by the Federal Reserve showed on Friday. This reading came in slightly lower than analysts' estimate for a decline of 11.5%.

"Manufacturing output dropped 13.7%, its largest decline on record, as all major industries posted decreases," the publication further read. "Capacity utilization for the industrial sector decreased 8.3% points to 64.9% in April, a rate that is 14.9 percentage points below its long-run (1972–2019) average and 1.8 percentage points below its all-time (since 1967) low set in 2009."

Market reaction

The US Dollar Index largely ignored this data and was last seen losing 0.13% on the day at 100.13.