US: Industrial production likely to print below-consensus +0.2% m/m advance - TDS

Research Team at TDS, suggests that for the US industrial production for July, TD is below-consensus at +0.2% m/m advance due to strength in the utilities and mining sectors, which should push the capacity utilization rate higher to 75.8%.

Key Quotes

“The market is more bullish and expects 0.3% m/m and slightly weaker capacity utilization at 75.6%. Housing starts for July are the last release of the day and are expected by both TD and the market to decelerate from their pace in June.

TD looks for starts to slow to 1160k while permits should edge lower to 1145k; the market is more upbeat and looks for a lesser-decline to 1180k and 1160k, respectively.”