US Industrial Production Crashes By Most Since End Of World War II

After surviving February (before COVID) with a modest MoM rise, US Industrial Production plunged 5.4% MoM (considerably worse than the 4.0% drop expected and the worst MoM since Jan 1946)...

Also, after briefly turning positive YoY in February, March Industrial Production is down 5.49% YoY - the worst YoY drop since Nov 2009

Source: Bloomberg

Best Uses For Stimulus Check

US Manufacturing production also collapsed, plunging 6.3% MoM and 6.6% YoY...

Source: Bloomberg

Capacity Utilization, not unexpectedly, collapsed to its lowest since April 2010 at 72.7%(against expectations of 74.0%)...

Source: Bloomberg

And finally, The Dow Jones INDUSTRIAL Average is finally caught down to the US INDUSTRIAL production level...

Source: Bloomberg

...but after March's drop in IP (and The Dow's Fed-floored bounce), The Dow still has a long way to go.

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