Here comes industrial production ...

The Federal Reserve will release data on industrial production and capacity utilization during April at 9:15 a.m. ET.

Economists forecast that industrial production rose 0.3% month-on-month following a 0.6% drop according to Bloomberg. This would be only the second positive reading since last September.

Capacity utilization was at 75%, economists estimate.

“Manufacturing production is set to see a nice 0.3% gain, considering that we saw a similar pick-up in aggregate hours worked in the sector,” said Bank of America Merrill Lynch in a preview.

“Additionally, the ISM manufacturing survey’s production component printed a 54.2 during the month, which indicates growth. We also anticipate a modest increase in utilities production. On the flip side, mining production likely continued to contract.”

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