US Factory Orders fell 0.5% MoM (confirming the flash print) in September, which dragged orders down 1.6% YoY…
Source: Bloomberg
Core orders (ex-Transportation) rose 0.1% MoM (from a 0.2% MoM decline in August). Durable Goods Orders (Final) fell 0.7% MoM (and core durable goods orders rose 0.5% MoM – better than expected).
Orders placed with US factories for business equipment declined in preliminary October data and the prior month’s gain was revised lower, suggesting firms are more guarded about investment.
Source: Bloomberg
Finally, for the sixth month in the last seven, durable goods orders were revised lower (August revised from -0.2% MoM to -0.8% MoM!)…
Source: Bloomberg
How is The Fed – or anyone – supposed to make ‘decisions’ when the data is revised so aggressively and consistently? Will the reality rug get pulled if Trump wins?
Tyler Durden
Mon, 11/04/2024 – 10:45
