US: Focus on retail sales and industrial production data - Natixis

René Defossez, Research Analyst at Natixis suggests that the focus of investors in todays US session will be on the release of retails sales and industrial production data.

Key Quotes

“Retail sales are likely to decelerate in November (from 0.8% MoM to 0.4% MoM). The growth of auto sales should ease (+0.3%) from the hefty pace seen in the past two months according to Autodata. Excluding auto, retail sales should gain by 0.4% MoM driven by another increase in core sales (+0.4%). Gasoline sales (+0.5%) should decelerate in line with the evolution of gasoline prices.”

“We expect industrial production to weaken in November (-0.1% MoM vs. 0.1% in October). Manufacturing production should continue to increase (+0.2%) as suggested by the production component of the ISM manufacturing survey of the month. Mining production is likely to cool (0.0%) after a strong surge in October. Utilities production should continue to contract as indicated by the fewer than usual heating degree days in November.”