Following July's 2.1% MoM, plunge, US Factory orders have rebounded dramatically, up 1.0% MoM in August and as the Census Bureau just reported, up an impressive 2.8% MoM in September (considerably more than the 2.3% expected).
Source: Bloomberg
That is the biggest MoM rise since July 2020., and lifts orders up 3.0% YoY, the biggest jump since January 2023.
Transports clearly helped the headline as ex-transports rose just 0.8% MoM (as expected), with YoY orders basically unchanged YoY...
Source: Bloomberg
For once, it was not war spending that helped as non-defense capital goods orders rose 18.5% (defense dropped 14.4% MoM)...
Source: Bloomberg
Aircraft engine and parts orders soared 62.3% MoM. (non-defense aircraft +92.5%, defense aircraft -15.2%)
Imagine how much that will be juiced in October when the Israel spending starts...
