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US: Focus on retail sales and industrial production – TDS

Analysts at TD Securities are looking for the US retail sales to disappoint in November with a flat print (market: 0.1%) after the 0.8% gain in October.

Key Quotes

“Ex-auto sales should edge lower by 0.1% but due to the sizeable drag from gasoline stations, other core measures should outperform with ex-autos & gas and sales for the control group projected to rise by 0.3% (market: 0.4% for both).”

“Industrial production will be released shortly afterward where TD looks for a 0.4% increase, slightly above the market consensus for 0.3%, on strength in manufacturing output (TD: 0.4%, market: 0.3%) and utilities.”

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