US: Industrial Production increased by 0.6% in February vs. 0.4% expected

• Industrial Production in US rose more than expected in February.
• US Dollar Index continues to climb higher after data.

Industrial Production in US increased by 0.6% on a monthly basis in February following January's 0.5% decline, the data published by the Federal Reserve revealed on Tuesday. This reading came in better than the market expectation of +0.4%.

In the same period, Capacity Utilization improved to 77% from 76.6%. 

"Manufacturing output edged up 0.1% in February, but it was still 0.4% below its level of a year earlier," further details of the publication showed.

USD reaction

The US Dollar Index edged higher after the data and was last seen adding 1.6% on the day at 99.56.