Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
With the Services economy now catching down to Manufacturing’s demise (in its lagged – not decoupled – manner), this morning’s news that US Factory Orders tumbled 2.9% in December (worse than expected and the biggest MoM drop since Dec 2014) offers little hope for any bounce anytime soon. This is the 14th monthly drop in YoY factory orders – something has not happened outside of a broad US economic recession. Even more concerning is the surge in inventories-to-shipments to cycle highs seen in 2000 and 2008.
And inventories soar to cycle highs…
Still the excuses pile up… weather… foreign not domestic… services will save us (oh wait!)