Back
15 Apr 2015
US Industrial Production to dip – TDS
FXStreet (Barcelona) - The TD Securities Team previews the key data releases in the US today, anticipating IP to dip 0.3% and the Beige Book to provide evidence of slowing economic growth.
Key Quotes
“The focus in the wake of the “not quite strong enough” rebound in March retail sales will turn to the manufacturing sector. We look for March industrial production to slip 0.3% as declining utility output weighs on the headline data and the manufacturing sector rebounds, but given the cold winter weather on the Eastern seaboard early in the month, there is some risk of continued disruptions. This will put increased emphasis on the April Empire manufacturing survey, with a rebound (we look for an improvement to 10.2 from 6.9) potentially helping to offset any IP disappointment.”
“Later in the day the Fed Beige Book should bring anecdotal evidence of slowing economic growth momentum early in the year, helping to shed light on the extent of weather disruptions.”
“Fed’s Lacker (hawk, voter) will make remarks.”
Key Quotes
“The focus in the wake of the “not quite strong enough” rebound in March retail sales will turn to the manufacturing sector. We look for March industrial production to slip 0.3% as declining utility output weighs on the headline data and the manufacturing sector rebounds, but given the cold winter weather on the Eastern seaboard early in the month, there is some risk of continued disruptions. This will put increased emphasis on the April Empire manufacturing survey, with a rebound (we look for an improvement to 10.2 from 6.9) potentially helping to offset any IP disappointment.”
“Later in the day the Fed Beige Book should bring anecdotal evidence of slowing economic growth momentum early in the year, helping to shed light on the extent of weather disruptions.”
“Fed’s Lacker (hawk, voter) will make remarks.”