Analysts at the Royal Bank of Canada (RBC) are expecting the diverging trends in the consumer and industrial sectors to remain in evidence this week for the U.S. economy.

• “Retail sales likely increased in October, adding to gains that saw real consumer spending rise an annualized 3% in Q3.
• Industrial production is forecast to have slowed further, due in part to labour disruptions in the auto sector that continued in October. Manufacturing has been a drag on growth for much of 2019, falling 1.5% in the first nine months of the year. The ISM manufacturing report showed a slight improvement in sentiment last month—a trend that would be helped by a reduction in trade uncertainty.”