US: Industrial production likely grew by 0.3% in October - Nomura

Research Team at Nomura, notes that the US incoming data for October suggest, on balance, that industrial production accelerated.

Key Quotes

“Aggregate hours worked in the manufacturing sector grew in October as growth in average hour worked offset a decline in payrolls. Weekly energy production data imply that utilities production was likely flat while mining production was little changed. All together we forecast that industrial production grew by 0.3% in October, a modestly acceleration from 0.1% in September.”