US industrial production likely contracted in November

US industrial production is expected to be steady by market consensus at the rate of -0.2% month on month basis in November, while the manufacturing output is likely to be declining to 0.0% and capacity utilization rate is likely to show a modest decline of 0.1%.

The PMIs along with the output figures and planned motor cehicle assembly schedules, indicate that the aggregate output of factories reduced by 0.3%  in the reference period, washing off previous all three quarters profits.

"With productive capacity expected to move modestly higher during the reference period, the projected decline in industrial output would pare the overall operating rate by one-half percentage point to two-year low of 77.0%", says Soceite Generale in a research note.