Both industrial production and manufacturing production to rise in July – HSBC

Analysts at HSBC offer their insights on what to expect from the upcoming US industrial production data, which is expected to have a major impact on the USD price-action.

Key Quotes:

“Seasonal adjustment for industrial production is quirky in July, as this is the month when many automakers schedule their annual factory shutdowns.

In past years, seasonal adjustment has often led to upside surprises for industrial production. However, we are uncertain about the likely impact this year, particularly given that auto sales have been weakening.

We forecast that both industrial production and manufacturing production rose 0.3% in July.“