US industrial production and Canadian manufacturing sales in focus – TDS

Analysts at TDS point out that Canada’s manufacturing sales for October are the lone economic release for Canada today and TD looks for an on-consensus 1.0% m/m increase.

Key Quotes

“Transitory factors will continue to weigh on auto production but a broad increase in factory prices and stronger shipments of petroleum products should help drive the headline result. Real manufacturing sales should post a more modest advance but are still likely to make a positive contribution to October GDP growth.”  

“US: Industrial production for November will provide the highlight of the data calendar. The market looks for a 0.3% m/m increase and expects capacity utilization to push higher to 77.2% from 77.0%. Empire manufacturing for December is the only other release and the market consensus is for a modest decline to 18.8 from 19.4.”