(CNBC) March retail sales fell 8.7%, the most ever in government data, and New York regional manufacturing activity hit an all-time low, declining to a shocking negative 78.2%. Industrial production slipped 5.4%, the largest decline since 1946, and manufacturing was down 6.3%, a record reflecting in part the 28% decline in auto production as plants shut down.
The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’
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