US Factory Orders Tumble In January – Sixth Straight Month Of YoY Contraction

After a surprisingly large jump in December, US factory orders tumbled 0.5% MoM in January (considerably worse than the 0.1% drop expected).

This left Factory Orders -0.8% YoY – the sixth straight month of contraction…

Source: Bloomberg

Additionally, core factory orders (es-transports) dropped 0.1% MoM

And this was all before the coronavirus impacted the global economy…