US Factory Orders Surge In March (As ISM Plunges)

Following February’s disappointing 0.5% MoM decline in US Factory Orders (and despite the ongoing slump in ISM Manufacturing), analysts expected a rebound in March and they were right. US Factory Orders surged 2.2% MoM in March and February was revised up from a 0.5% decline to a 0.1% MoM rise. Ex-Transports, factory orders rose even more (up 2.5% MoM from an upwardly revised +1.0% MoM in February).

Source: Bloomberg

This is the biggest jump in US Factory orders since May 2021, lifting the ‘hard’ data to its most divergent from the ‘soft’ data on record…

Source: Bloomberg

What happens next?