After plunging in October, US Manufacturers New Orders were expected to rebound significantly in November as the noisiest time series in America continues to flip-flop (despite US Manufacturing surveys going in only one direction - lower). Sure enough, Factory Orders rose 2.6% MoM (+2.4% exp) and October's 3.6% decline was revised modestly hiugher to a 3.4% MoM decline. The 2.6% MoM jump is the biggest since January 2021 and dragged orders up 3.1% YoY...
Source: Bloomberg
Core factory orders rose just 0.1% MoM (leaving core orders down 0.8% YoY)...
Source: Bloomberg
So manufacturing orders surged as manufacturers survey data continues to suggest anything but strength...
Source: Bloomberg
WTF is going on here?
