Monthly sales rates peaked in 2016 when oil capex collapsed, then leveled off, then started sliding again with the tariffs, then collapsed with the covid shock, and have nearly recovered to the lower levels:
As with vehicles, the rate of monthly sales has recovered to prior levels, but sales lost during the dip weren’t recovered:
Industrial production has had a much weaker recovery and has turned back down:
Recovered some but still down from pre covid levels:
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