Forex - Preview: due 16 May - US Apr Industrial Production


 15:07 (GMT) 15 May

  [Economic Data]

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Preview: due 16 May - US Apr Industrial Production (0100-ZSNG-C01)

Even with slightly slower, if still clearly positive ISM manufacturing data, we expect a strong 0.9% increase in Apr US industrial production, with a 1.0% increase in manufacturing. The main downside risk comes from utilities with improved weather, but weekly electrical output data does not suggest a sharp fall. Mining should remain firm supported by oil prices.

Preview: due 16 May - US Apr Industrial Production (0100-ZSNG-C02)

Non-farm payroll data shows a bounce in aggregate manufacturing hours worked after a subdued Mar when cold weather may have restrained output. Just like Feb saw a strong rebound from a weak Jan in manufacturing, Apr should show a strong bounce from Mar.

Preview: due 16 May - US Apr Industrial Production (0100-ZSNG-C03)

Capacity utilization overall should increase to 78.6% from 78.0% to reach the highest since Jan 2015. Manufacturing should increase to 76.7% from 75.9% to reach the highest since Apr 2008, marginally clearing the 76.6% seen in Nov 2014.


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