US Factory Orders Disappoint In March
After February’s dismal drop, blamed on weather, US factory orders were expected to rebound solidly in March (despite a mixed picture from Manufacturing surveys), but analysts were disappointed when the print hit at +1.1% (below the +1.3% expected) after February’s 0.8% drop was revised higher to a 0.5% drop.
Obviously, the 16.1% YoY surge is due to the ugliness of the comps from last March when the world stopped.
March’s rebound has pushed total factory orders above Sept 2018’s cycle peak
Is this as good as it gets? Judging by the stagflationary drop in production and surge in prices, it may well be…
Until the next round of government handouts.
Tue, 05/04/2021 – 10:06