US Industrial Production Plunges By Most In Over 100 Years
Tyler Durden
Fri, 05/15/2020 – 09:22
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…
Source: Bloomberg
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 Industrial Average still has a long way to go to catch down to Industrial Production…
Source: Bloomberg
It could never happen, right?
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