Factory Orders Rebound Strongly in July Despite Manufacturing PMIs sliding, US Factory orders were expected to rebound from a two-month decline in July (the latest data reported today) and rebound they did, rising 0.9% MoM (more than the expected 0.7% increase) with June's 0.3% decline revised up to a 0.2% decline... That is the best monthly rise since April, lifting orders up 9.9% YoY - the second best annual gain since Oct 2022! Core Factory orders rose 0.6% MoM (significantly better than the expected 0.4% rise)... That is the 8th rise in Core Orders in the last nine months with annual growth holding above 9% YoY. And no, it wasn't all war spending as Ex-Defense, orders still rose 0.98% MoM and 8.79% YoY... The...
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