Here comes industrial production ...

The latest data on US industrial production and capacity utilization are set for release at 9:15 a.m. ET.

Economists estimate that industrial production fell 0.2% month-on-month in September, according to Bloomberg. It would mark the seventh time this year that this measure of the inflation-adjusted value of manufacturing output comes in negative.

As we highlighted on Thursday following more weak regional data, American manufacturing is in recession.

Economists estimate that the capacity utilization rate was 77.3%.

Here’s Credit Suisse’s quick preview to clients: “Factory hours worked in the September jobs report fell a steep 0.6% month-on-month. Falling oil production could dampen mining output. And purchasing manager surveys have been broadly weak. Vehicle output appears to have increased in September, but not enough to offset other sources of drag.”

We’ll be here with the details once they cross.

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