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Industrial production sees strongest rise in two years

EURUSD News by Newsroom on 09:48 January 18, 2017 EST

U.S. industrial production grew more than expected in December after the prior month’s decline, official data showed on Wednesday.

In a report, the Federal Reserve said that industrial production rose 0.8% in December, better than expectations for a 0.6% advance.

Utilities output soared 6.6% during the month, while mining output was flat and manufacturing output gained 0.2%.

Compared to the same period of 2015, production is up 0.5%.

The greenback rose against its major rivals ahead of the release. The dollar was worth 1.0666 against the euro, 1.2288 against the pound, 1.0036 against the franc and 113.42 against the yen