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US factory output plunged to the lowest level on record dating back to 1948 in April as coronavirus spread | Business Insider
Source: By Tiia Monto - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=73206881

US factory output plunged to the lowest level on record dating back to 1948 in April as coronavirus spread | Business Insider

The coronavirus pandemic has caused record-low output levels from U.S. factories that reaches back to 1948. The ISM production index has fallen over 20 points in April, and delivery times have been on the rise. As more facilities begin to close delivery time will continue to rise, as well as layoffs. The employment index is also at the lowest it has been in over 70 years as more layoffs continue and facilities close for good. “Among the six big industry sectors, Food, Beverage & Tobacco Products remains the strongest. Transportation Equipment and Fabricated Metal Products are the weakest of the big six sectors,” commented Timothy Fiore, chair of the ISM’s manufacturing survey committee.

Source: https://www.businessinsider.com/us-factory-output-fell-april-ism-slumped-coronavirus-pandemic-contraction-2020-5

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