Industrial production plunges unprecedented 11.2% in April
May 15, 2020 | 7:34 AM
-
Share on Facebook
-
Share on Bluesky
-
Share on X
- Copy Link
WASHINGTON — American industry recorded the biggest drop on record last month as factories, mines and utilities were all battered by the economic fallout from the coronavirus pandemic.
The Federal Reserve said Friday that its industrial production index plunged a record 11.2% in April. Manufacturing output also posted a record drop — 13.7% — as production of cars, trucks and auto parts plummeted more than 70%. Output dropped 6.1% at mines and 0.9% at utilities.
Paul Wiseman, The Associated Press