Core Factory Orders Tumble Most In 13 Months

Another 'hard' data point disappoints (dramatically). While headline factory orders rose just 0.2% (half the expected 0.4% gain), it was the 0.3% tumble in core orders (ex transportation) that really stands out - the biggest MoM drop since Feb 2016  

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(when the world was heading into global recession and only a coordinated global central bank intervention saved it).

The big factors helping in March:

• Orders for Mining, oil field, and gas field machinery: +16.7%
• Orders for Defense aircraft and parts: +31.0%

Probably nothing...

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