Mubasher: US industrial production growth sank in January, recording the first decline in 8 months, data by the Federal Reserve Bank showed on Friday.

Industrial production, a gauge of factory, mining and utility output, declined 0.6% last January, after a 0.3% gain in December last year was downwardly revised to 0.1%.

Production at US factories, which represents around 75% of the country’s overall industrial output, declined 0.9% last month, mainly because of a plunge in motor vehicle assemblies.

Omitting motor vehicles and auto parts, manufacturing output edged down 0.2% in January.

Capacity utilisation, which reflects the constraints to operating factories, mines and utilities in the US, shed 0.6% to 78.2% during the month.

By 3:28 pm GMT, the EUR/USD pair rose 0.27% to $ 1.1264.