And to cap a day of serially ugly US macro data, factory orders unexpectedly plunged (-0.5% MoM) in May (against expectations of a 0.2% rise and worse still April was revised lower)...

The YoY rise in factory orders is just 0.9%... and remember that is nominal... So in reality factory orders are tumbling on a YoY real basis.

After three strong months, Core Factory Orders also dropped (tumbling 0.7% MoM)...

Is this bad enough to be good news for Fed doves?

...but apart from ADP, jobless claims, ISM Services, and factory orders "the US economy is the strongest in the world?"
{ai:summary}Factory orders dropped unexpectedly in May, with a YoY rise of just 0.9%. Core factory orders also fell, raising questions about Fed policy. #economy

US Factory Orders Unexpectedly Tumbled In May

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