Here comes industrial production ...

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

Economists forecast that industrial production rebounded to 0.3% after a drop by 0.4% in May, according to Bloomberg. The slowdown last month suggested that the manufacturing sector is not quite in the clear yet.

They estimate that capacity utilization increased to 75.1% from 74.9%.

Here’s a preview from Wells Fargo’s Sam Bullard:

Industrial production missed expectations in May, signalling continued challenges in the factory sector. Although utilities declined following April’s surge, manufacturing output also fell and is now more or less flat over the past year. Motor vehicles & parts, a sector that has been one of the few bright spots in manufacturing over the past year or so, accounted for much of this decline. We look for a bounce back in utilities and autos to support a 0.4% increase in industrial production in June, which would largely recoup May’s 0.4% decline.

More to come …

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