U.S. October IP likely rebounded

Tomorrow U.S. will be on markets' focus as data on three major indicators like industrial production, capacity utilization, and manufacturing production are schedule to release.

The industrial production contracted by 0.3% in the August-September span is likely to edge up by 0.1% in October, estimates Societe Generale. Similarly, the coal mining and crude oil extraction are likely to rebound during the reference period, and thereby mining output post a robust growth.

"Our projection would place October's industrial production reading 0.4% annualized below the July-September average, following a 1.9% summer-quarter rise. With additions to productive capacity expected to match October's modest output gain, the capacity utilization rate likely remained at 77.5%", added Societe Generale.