Despite ISM Slump, US Factory Orders Soared In June

Despite ISM Slump, US Factory Orders Soared In June

Analysts expected US Factory Orders to rise in June for the 9th straight month and they did, surging 2.0% MoM (far better than the +1.2% expected) and accelerating from the upwardly revised +1.8% MoM in May)…

Source: Bloomberg

And notably, this factory orders increase comes as ISM’s survey show manufacturing orders tumbling?

Source: Bloomberg

Perhaps the survey is ‘real’ (inflation adjusted) and the hard data is nominal? Or the survey is just a sign of ugly things to come (like in 2007).

Tyler Durden
Wed, 08/03/2022 – 10:12

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