Industrial production and capacity utilization for January will be released tomorrow morning at 10am (ET). Given the surprising upside that we saw in Jan. ISM-manufacturing index, we think industrial production may come in slightly ahead of expectations. Our estimate is 98.5%, a 0.4% increase from Dec. The consensus stands at 98.4%. With not much overall change in the work week figures of most regional surveys, we think capacity utilization will likely be in-line with the Street's estimate of 78.9%, a 0.1% sequential increase.
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