BBC NEWS | Business | US factory output continues fall.
It’s a bit odd to cite a BBC news article for this but the point is the same. The other day my international economics professor was talking about the advance GDP numbers released this week. One of the negative but promising items was that construction was down so much. The point is not that no construction labor is a good thing, but that we’ve probably seen that worn out as a negative factor for the overall GDP. People likely aren’t still losing jobs in the field, but have already lost them. There is nowhere else to go but up.
It may be a similar case for overall factory output as well. It’s so far down that perhaps it’s going to level off, then eventually climb. In fact, the article mentions that the drop was not as bad as expected.