US Factory Orders Steady In August, Despite ISM Manufacturing Plunge

US Factory Orders Steady In August, Despite ISM Manufacturing Plunge

After an unexpected (and sizable) decline in July, August’s Factory Orders data for US was expected to be unchanged and indeed it came in right in line.

This pushed the YoY rise in US factory orders down to +11.2% – the lowest since Feb 2021…

Source: Bloomberg

Ex-Transports, new orders rose 0.2% MoM (also as expected).

However, there’s just one thing… why is the ISM Manufacturing New Orders signal collapsing?

Source: Bloomberg

Nothing here that is worrisome enough to prompt a Few Pivot… yet

Tyler Durden
Tue, 10/04/2022 – 10:04

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