US Factory Orders Jumped More Than Expected In August… Thanks To War

After July’s 2.1% MoM plunge, US Factory Orders rebounded in August (+1.2% MoM vs +0.3% exp), which managed to pull the year-over-year change in orders into the green (+0.5% YoY)…

Source: Bloomberg

Core factory orders rose even more impressively, jumping 1.4% MoM (vs just +0.2% MoM exp). That’s the biggest MoM jump since Jan 2022, but left core factory orders down 0.9% YoY…

Source: Bloomberg

Excluding Defense, orders grew at only 0.8% MoM as Defense orders jumped 18.6% MoM…

What would America’s economy do without war?