Despite ISM Slump, US Factory Orders Soared In June
Analysts expected US Factory Orders to rise in June for the 9th straight month and they did, surging 2.0% MoM (far better than the +1.2% expected) and accelerating from the upwardly revised +1.8% MoM in May)…
And notably, this factory orders increase comes as ISM’s survey show manufacturing orders tumbling?
Perhaps the survey is ‘real’ (inflation adjusted) and the hard data is nominal? Or the survey is just a sign of ugly things to come (like in 2007).
Wed, 08/03/2022 – 10:12
Source: Zero Hedge News
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