Despite a surge in the Manufacturing (soft) survey data in December and January, 'hard' data continues to disappoint...
Source: Bloomberg
...as US Factory Orders fell 0.9% MoM in December (worse than the 0.8% decline expected) with November revised dramatically lower (to -0.8% MoM from -0.4% MoM)...
Source: Bloomberg
This left US Factory Orders in Bidenomics' final year down 1.1% YoY while Core Factory Orders (ex-Transportation) rose 0.3% MoM - the fourth straight monthly rise - and up 1.4% YoY...
Source: Bloomberg
The final print for December durable goods orders confirmed the preliminary print, down 2.2% MoM...
Source: Bloomberg
Will the lagged response to a resurgence in confidence since Trump's election spark a manufacturing renaissance?
