COVID-19, Manufacturing, and What to Expect in 2021
River Logic
FEBRUARY 9, 2021
In 2020, manufacturing took a huge hit as a result of the constraints around COVID-19. In April 2020, year-on-year output dropped by nearly 20%. Since then, there's been a dramatic recovery, although November 2020 figures are still 3.7% lower than those from November 2019. On the other hand, the October and November 2020 Purchasing Managers Index (PMI) is higher than any time since 2018, indicating a pent-up demand for manufacturing.
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