U.S. industrial output growth accelerates in August

U.S. industrials output growth picked up in August, showed the latest US Sector PMI from IHS Markit. Activity rose at a sharp rate that was one of the most rapid over the last three-and-a-half years. Industrials also showed the most rapid growth of the monitored sectors. In the meantime, healthcare companies indicated solid output growth, extending the current sequence of growth to nine months. The pace of the latest upturn was the second most rapid since January 2017.

Alongside industrials, the consumer goods sector was the only other segment to record a more rapid growth. On the contrary, technology and financials companies reported weaker rises in output. Moreover, the former hinted at the weakest growth in the present five-month sequence of growth.

Likewise, consumer services and basic materials companies recorded a loss of growth momentum midway through the third quarter. Growth in consumer services companies slowed to a marginal rate that was the slowest in 14 months.

At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at -15.5589. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex