US Factory Orders Slump In September, Biggest Contraction Since July 2016

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US Factory Orders Slump In September, Biggest Contraction Since July 2016

After August’s contraction, Factory Orders in September were expected to accelerate their decline, but the 0.6% MoM drop was more than expected. This sent the year-over-year contraction in factory orders down to -3.5% – the worst since July 2016…

US Factory Orders Slump In September, Biggest Contraction Since July 2016

Source: Bloomberg

Additionally the final durable goods orders print for September worsened, dropping 1.2% MoM and down 4.0% YoY…

US Factory Orders Slump In September, Biggest Contraction Since July 2016

Source: Bloomberg

Of course, everyone assumes that September was the inflection point and that October (and now November) will be awesome because of trade-deal hope?

 


Tyler Durden

Mon, 11/04/2019 – 10:05

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