US Factory Orders Surge In December, Back To Pre-COVID Levels

US Factory Orders were expected to rise for the 8th straight month in December and they did , outperforming expectations with a 1.1% MoM jump (+0.7% exp) and November was revised higher from +1.0% MoM to +1.3% MoM…

Source: Bloomberg

However, as the chart above shows, the YoY growth faded back to -0.8%.

And overall, US factory orders are rapidly catching up to pre-COVID levels…

Source: Bloomberg

It took 4 years to recover from the 2008 plunge in production. The 2020 drop took 8 months!

So, presumably we don’t need another $2 trillion in “stimulus”, right?