And a Dundie Award goes to … Washington DC for the notable achievement of 14 straight months of industrial production decline YoY. The longest string of contraction without a recession in 96 years.
Notice that since 1984, this has been the longest contraction without a recession. Quite an accomplishment!
For October, month-over-month (MoM) growth in industrial production was … 0%.
A second Dundie Award goes to Washington DC for the longest non-recession streak of capacity utilization below 80% in history.
And wonder why wage growth is so pathetic for 82% of the US population? The worst wage/earnings recovery post-recession since 1965.
Two Dundies go to Congress, the Administration and The Federal Reserve (joint winners!) for lousy industrial production growth and sub-80% capacity utilization.
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