For the 19th month in a row, US Factory Orders decline YoY (-1.2% for May) with a 1% drop MoM. Simply put, in 60 years of historical data, the US economy has never, ever suffered a 19 month stretch of consecutive annual declines…
And yet we are supposed to believe there is no recession?
What happens next?
Charts: Bloomberg
via http://ift.tt/29nxN2m Tyler Durden