US Factory Orders Top 2018 Highs, Despite Tumbling ISM

zerohedge2021-08-03

(Aug 3) Despite a notably weak print for ISM's Manufacturing survey (at 2021 lows), analysts expected US Factory orders to continue their rebound back near 2018's record highs, and they did, rising 1.5% MoM, better than the 1.0% increase expected.

Source: Bloomberg

That is the 13th monthly increase of the last 14 and puts Factory orders back at their 2018 highs.

The final print for durable goods orders in June were slightly better than expected and improved over the month.

Finally, just like we saw in Q2 2018, survey data appears to be signaling something not so positive for US factory orders going forward...

Source: Bloomberg

Unless, of course, we get another few trillion in Washington largesse washing around the nation's crony capitalists.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
22