US Industrial Production Preview

US October Industrial Production will be reported on Wednesday, November 16 at 14:15 GMT and is expected at 0.2% month-on-month vs. 0.4% in September. Here you can find the expectations as forecast by the economists and researchers of three major banks regarding the upcoming data.

Citibank

“Industrial Production should rise a modest 0.1% MoM in October, but with a stronger 0.4% MoM increase in manufacturing production. Weaker utilities production in total IP would be a result of relatively more mild temperatures during the month of October. For the largest subset of manufacturing, however, this would be another solid increase similar to September, in line with strength in manufacturing employment in October and a pick up in hours worked. The manufacturing sector does face downside risks from weaker goods demand globally and a strong USD weighing on export demand. However, real production as measured in the industrial production report has remained solid with no substantial weakening just yet, possibly as softer demand allows production to pick up after many months of constrained supply.”

TDS

“We expect Industrial Production to contract 0.3% MoM in October following the strong 0.4% gain registered in September. We expect strength in manufacturing activities (+0.5% MoM) to be more than offset by a sharp decline in output for the utilities sector.”

NBF

“Output growth could have decelerated in the manufacturing segment, but that may have been offset by a strong showing for utilities. All in all, headline Industrial Production may have risen 0.3% MoM.”