Analysts at TD Securities suggest the U.S. industrial production likely surged in November, due largely to a rebound in auto production following the end of the GM strike (TD 1.0%; consensus 0.8%).

• “Weather-related strength in utilities probably contributed to the surge as well. We estimate manufacturing output rose 1.1% m/m, with non-auto manufacturing flat. Separately, we expect housing starts to add 1,355k units in November - just below its recent high - as the housing sector continues to benefit from low-interest rates and still solid consumer fundamentals.”