Industrial Production Is Not Really “Surging”

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Donald Trump is bragging today that industrial production “surged” in April. And sure enough, it was up 1.7 percent compared to last year. That’s not bad. But you know what else increased since last year? The population of the United States. Here’s the industrial production index from the Federal Reserve adjusted for population growth:

That tiny blip at the end represents the surge. So don’t get too excited. Per capita industrial production in the US has been roughly flat for the past four years and nothing that Trump has done so far—or is likely to do—has much chance of changing that dramatically.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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