US Industrial Production Plunges By Most In Over 100 Years

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?