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Rebound In US Factory Orders Disappoints In May

Courtesy of ZeroHedge View original post here.

Having collapsed in March and April, US factory orders were expected to surge higher in May as reopenings began. From a 13.0% plunge in April, May’s orders were expected to rebound 8.6% MoM but disappointed, printing +8.0% MoM.

This is still the biggest MoM rise since Aug 2014 but YoY, US factory orders remain down 15.8%

Source: Bloomberg

Having fallen to its lowest level since 2005, total factory orders rebounded only modestly…

Source: Bloomberg

Ex-Transports, factory orders disappointed even more, rising just 2.6% MoM (against expectations of a 6.5% rise).

Additionally, final data for durable goods were also revised lower from the preliminary data.

This is not the ‘v’ you’re looking for.


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