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…
Additionally the final durable goods orders print for September worsened, dropping 1.2% MoM and down 4.0% YoY…
Of course, everyone assumes that September was the inflection point and that October (and now November) will be awesome because of trade-deal hope?
Mon, 11/04/2019 – 10:05