Having crashed in March, April industrial production was expected to crash even harder. Industrial production plunged 11.2% MoM (very modestly better than the 12% drop expected) but still the worst in 101 years…
Manufacturers in the U.S. were among the first to experience the pandemic’s economic drag as producers fell victim to supply-chain disruptions, a severe weakening in exports market and a drop in domestic demand.
Capacity Utilization collapsed to a record low 64.9%
The DOW Jones Industrial Average still has a long way to go to catch down to Industrial Production…
It could never happen, right?
Wonder how long it will take to hitch the horse to the wagon …1800’s all over again
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