US Factory Orders Disappoint In March

After February’s dismal drop, blamed on weather, US factory orders were expected to rebound solidly in March (despite a mixed picture from Manufacturing surveys), but analysts were disappointed when the print hit at +1.1% (below the +1.3% expected) after February’s 0.8% drop was revised higher to a 0.5% drop.

Source: Bloomberg

Obviously, the 16.1% YoY surge is due to the ugliness of the comps from last March when the world stopped.

March’s rebound has pushed total factory orders above Sept 2018’s cycle peak

Source: Bloomberg

Is this as good as it gets? Judging by the stagflationary drop in production and surge in prices, it may well be…

Source: Bloomberg

Until the next round of government handouts.