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

Courtesy of ZeroHedge View original post here.

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…

Source: Bloomberg

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

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?

 


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