Producer Price Index
It should come as no surprise that producer prices are declining rapidly, as the global economy has gradually shut down to arrest the spread of the virus. The Producer Price Index declined 0.2% in March, led by a 6.7% plunge in energy prices (goods), while the core rate rose 0.2%. We have yet to see the real impact of the virus, which should become fully visible in the April report.
Weekly Unemployment Claims
Another jaw-dropping figure, as 6.6 million claims were filed last week. This clearly understates the true number of unemployed,