With the coronavirus pandemic leading many factories to suspend operations late in the month, the Federal Reserve released a report on Wednesday showing the biggest monthly drop in U.S. industrial production in over seventy years in the month of March.
The report said industrial production plunged by 5.4 percent in March after rising by a downwardly revised 0.5 percent in February.
Economists had expected production to tumble by 4.0 percent compared to the 0.6 percent increase originally reported for the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.