wjr business beat

WJR Business Beat with Jeff Sloan: Manufacturing Sector Faces Rapid Decline (Episode 59)

New data released by the Federal Reserve makes clear just how dramatic the impact of the COVID-19 crisis has been on the manufacturing sector in the U.S.

Industrial production in the U.S. suffered historic falloff in May, according to the study. Manufacturing output was hit particularly hard, dropping more than 13 percent over March, the steepest fall in the 101 year history of the Industrial Production Index (IPI).

The industries affected include textiles, apparel and leather goods, but most relevant to us in the Detroit region, the production of motor vehicles and parts was by far the most impacted in the entire category as closed assembly plants across the nation resulted in a 72 percent output drop.

Listen to this morning’s WJR Business Beat for the full report:

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Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.

Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!

This segment is brought to you by Dell Technologies

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