Manufacturing Output: A depressing picture

What´s going on with industrial output best reflects the economy´s depressed state. Note that for the first 6 or 7 months of the recession, this cycle was on a par with the others. After that, mid-2008, the economy, including manufacturing output takes a surprising dive. That was what economists did not (and hardly could have) predicted, based, as it was, on a gargantuan monetary policy mistake, a mistake last made in 1937. The irony, but that´s quite usual, is that the man responsible for that mistake was a renowned scholar of the Great Depression! Capacity Utilization is likewise depressed….

This content is for Free Trial and Subscriber members only.
Log In Register

Comments are closed, but trackbacks and pingbacks are open.