Bill King writes:
US industrial production for March declined 1.5% m/m and 12.8% y/y. This is the biggest y/y decline since the end of WWII. Q1industrial production collapsed 20% annualized. Since the recession ‘officially’ commenced in December 2007, industrial production is down 13.3% and factory production has declined 15.7%, which is also the largest decline since the end of WWII.
Q4 industrial production declined at a 12.7% annualized rate. So the past two quarters are showing a depression-like contraction in industrial production…Capacity Utilization fell to 69.3% in March. This is the lowest reading in the history of the series, which began in 1967.
The March industrial production data and February revision verifies our suspicious about too-good-to-be true auto production, industrial production and other economic data for February.
CPI fell 0.1% in March m/m and 0.4% y/y. This is the first annual decline since 1955.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.