We’re particularly interested in today’s industrial production and capacity utilization numbers coming out later today.Officially, industrial production is expected to have grown 0.5% in July, up from 0.2% in June. Somehow that seems pretty optimistic given the other data lately.
And capacity utilization is expected to hit 77% up from 76.7% in the previous month. Again, high hopes for growth?
This July data is very important. It should help confirm or undermine yesterday’s ugly NY Fed report.