Despite ISM Slump, US Factory Orders Soared In June
Analysts expected US Factory Orders to rise in June for the 9th straight month and they did, surging 2.0% MoM (far better than the +1.2% expected) and accelerating from the upwardly revised +1.8% MoM in May)...
(Click on image to enlarge)
Source: Bloomberg
And notably, this factory orders increase comes as ISM's survey shows manufacturing orders tumbling.
(Click on image to enlarge)
Source: Bloomberg
Perhaps the survey is 'real' (inflation-adjusted) and the hard data is nominal? Or the survey is just a sign of ugly things to come (like in 2007).
More By This Author:
Key Events This Busy Week: Jobs, ISM, And Even More Central Banks And EarningsEnough With The Focus On Jobs: They Will Tell You Nothing About The Recession
Biden Nemesis Exxon Reports Record Earnings As Company Prints $20 Billion In Cash
Disclosure: Copyright ©2009-2022 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every ...
more
Comments
