US: Industrial production forecasted to post a mild rebound in September - TDS

US industrial production is forecasted to post a mild rebound in September from the Harvey-induced drop the prior month, suggests the analysis team at TDS.

Key Quotes

 “While Hurricane Irma will once again distort the data, TD looks for a 0.2% m/m increase (market: 0.3%), led by the normalization of energy output, while Florida power outages offset the impact of unseasonably warm weather for utilities. Manufacturing production should post a more modest 0.1% gain on the month (market: 0.2%). Harvey’s impact on gasoline will also affect import prices for September; the market expects import prices to rise by 0.6% though the consensus for ex-petrol prices is for a more moderate 0.2% gain. Lastly, Philadelphia Fed President Patrick Harker (voter) will give a speech at 13:00 ET.”