Today's year-over-year industrial production number came in at -0.5% marking the 11th consecutive month of contraction. (The vertical red bars in the chart above mark recessions and anything below the red line indicates a contractionary reading.) For context, and a bit worrisome, it's worth noting how long industrial production contractions lasted during the last two economic recessions:
- Recession, December 2007 - June 2009: Industrial production declined for 12 straight months (y-o-y)
- Recession, March 2001 - November 2001: Industrial production declined for 16 straight months (y-o-y)