Despite Manufacturing surveys showing the sector in contraction, US Factory Orders jumped 2.3% MoM in June (as expected), the biggest MoM jump since January 2021...

However, despite the bounce, on a year-over-year basis, orders remain down 0.2%.

Removing the volatile Transportation sector, core factory orders rose only 0.23% MoM (though that did break a 4 month down streak)...

And left core factory orders down around 5% YoY - a drop we last saw at the start of the COVID lockdowns.

Soft-landing, maybe? But core looks more like more of the same decline.

...but core factory orders remain down 5% YoY - the worst since the start of the COVID lockdowns.
{ai:summary}US Factory Orders rose 2.3% MoM in June, the biggest jump since January 2021. However, on a YoY basis, orders are down 0.2%. Core factory orders rose 0.23% MoM, breaking a 4-month decline streak, but remain down around 5% YoY. #economy

US Factory Orders Surged In June, But...

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