According to analysts at TD Securities, the US industrial production likely surged in November, due largely to a rebound in auto production following the end of the GM strike (TD 1.0%; consensus 0.8%).
Key Quotes
“Weather-related strength in utilities probably contributed to the surge as well. We estimate manufacturing output rose 1.1% m/m, with non-auto manufacturing flat. Separately, we expect housing starts to add 1,355k units in November “” just below its recent high “” as the housing sector continues to benefit from low interest rates and still solid consumer fundamentals.”
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