US: Industrial production likely to post 0.4% gain in August - Nomura
|Analysts at Nomura are forecasting a 0.4% m-o-m gain in the US aggregate industrial production.
Key Quotes
“The manufacturing sector activity has been improving resiliently over the past year and a half. While there have been increased signs of slowing external growth, strong domestic demand will likely remain supportive for industrial activity expansion.”
“Against this backdrop, we expect a steady 0.3% gain in ex-auto manufacturing output. Moreover, based on industry forecasts, auto assemblies likely picked up sharply in August after a transitory slowdown in July and should contribute to aggregate industrial output.”
“For the mining sector, we expect a rebound in output considering firm increases in crude oil and gas extraction. However, considering active oil rig counts that plateaued in August, the contribution from mining support activity would be muted.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.