US: Industrial production likely contracted by 0.2% in November - Nomura

Analysts at Nomura after putting all the components together, forecast that US industrial production contracted by 0.2% in November (Consensus: -0.3%), a modest pause following a 0.1% increase in October. 

Key Quotes

“Incoming data suggest that manufacturing sector output slowed slightly in November. Aggregate hours worked in the manufacturing sector excluding motor vehicles declined slightly as a small gain in payrolls was offset by a decline in the average hours worked. Weekly energy production data imply that mining production improved slightly but utilities production was little changed. Moreover, industry projections suggest a slowdown in autos and auto parts production in November.”