US Factory Orders Tumbled In February As ISM Signals Collapse To Come
After January's headline factory orders tumbled MoM (following December's unexpectedly large jump), consensus estimates are for February to see a further (0.5%) decline (which would fit with the declining ISM data yesterday). However, Feb Factory Orders tumbled 0.7% MoM (and worse still, January was revised down to a 2.1% decline)...
Source: Bloomberg
That slows the YoY growth in US Factory Orders to just 2.7% - the slowest since Feb 2021
Core Factory Orders were expected to be unchanged MoM in February but declined 0.3% MoM (and also saw January's 1.2% MoM rise revised down to 0.8% rise). Core Factory orders have basically gone nowhere for a year...
Source: Bloomberg
Finally, WTF is going is on here...
Source: Bloomberg
Outside of the COVID lockdowns, ISM Manufacturing survey is in the deepest contraction since the Great Financial Crisis, but manufacturers' orders are 'steady'?
More By This Author:
These Were The Best And Worst Performing Assets In March And Q1Crypto Jumps After Musk Changes Twitter Icon To Dogecoin
Bullard Admits OPEC Cuts May "Make [Fed's] Job A Little More Difficult"
Disclosure: Copyright ©2009-2023 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies ...
more
Comments
