Despite all the ‘soft’ data slumping and legacy media narrative creation that a recession is imminent, US Factory Orders (hard data) surged for the second month in a row (beating expectations). Headline factory orders rose 0.6% MoM (+0.5% MoM exp) in March and February’s 1.7% MoM jump was revised up to +1.8% MoM. This left Factory Orders up 2.5% YoY…
Source: Bloomberg
Core Factory Orders (excluding the more volatile Transportation sector) rose 0.4% MoM – accelerating on a MoM basis for the sixth straight month…
Source: Bloomberg
Finally, February’s rise lifted US Factory Orders very close to record highs…
Source: Bloomberg
So much for the ‘soft’ data-driven recession talk?
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