After February’s surprising slowdown, US factory orders were expected to rebound in March and rebound they did.
US factory orders had fallen for 4 of the last 5 months ahead of today’s March data but against expectations of a 1.6% rise, order spiked 1.9% MoM – the most since Aug 2018…
On a year-over-year basis, US Factory Orders hovered at 2.0% YoY – near the weakest since Nov 2016
Core factory orders also rose in March (up 0.8% MoM) – the best since April 2018 – as non-defense capital goods shot up 6.5% MoM with Transportanation durable goods orders up 7.0% MoM.
Is this the inventory build that spiked Q1 GDP? And, as Jay Powell might ask “is is transitory?”
via ZeroHedge News http://bit.ly/2Ja6QBl Ty