US industrial production plunged most in 101 yearsI’ve previously mentioned that sales for many manufacturers did not begin to fall off a cliff until the second half of April as companies had earlier hoarded supplies and raw materials with worries supply chains would be cut off. Even with sales not falling off right away in April, April still had the largest US industrial production month-over-month drop in 101 years.
May and June will easily be worse than April. This is all hugely deflationary. The overall stock market and the energy sector in particular are not priced in full awareness of the deflationary destruction the economy faces for many months to come.
Invest accordingly. JMHO. GLTA.
https://www.zerohedge.com/markets/us-industrial-production-plunges-most-over-100-years