The economic impact of the coronavirus in the US has become abundantly clear in the past couple of weeks and industrial production is not an exception, Jennifer Lee from the Royal Bank of Montreal reports. Key quotes “The 5.4% decline in US industrial production was larger than expected, with no sectors/industries spared.” “Manufacturing, which accounts for 75% of total output, fell a record 6.3%, which was 2x what was expected.” “Mining output, which accounts for 15% of output, fell for the second month in a row, down 2.0%, also worse than expected.” “Utilities, the pesky wildcard, was down for the 3rd time in the past four months. The component accounts for just over 10% of overall production, and it fell 3.9% in March.” “With quieter factories, the capacity utilization rate dropped a record 4.3 ppts to a decade-low 72.7%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bank of Canada Governor Poloz speech live stream – April 15 FX Street 2 years The economic impact of the coronavirus in the US has become abundantly clear in the past couple of weeks and industrial production is not an exception, Jennifer Lee from the Royal Bank of Montreal reports. Key quotes “The 5.4% decline in US industrial production was larger than expected, with no sectors/industries spared.” “Manufacturing, which accounts for 75% of total output, fell a record 6.3%, which was 2x what was expected.” “Mining output, which accounts for 15% of output, fell for the second month in a row, down 2.0%, also worse than expected.” “Utilities, the pesky wildcard, was down for the 3rd time… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
