Stagflation Signals Soaring As Factory Orders Tumbled In April

For the first time since April 2020, US Manufacturers new orders fell in April. The 0.6% MoM drop was triple the expected 0.2% MoM drop.

Source: Bloomberg

For context, here is inflation ‘surprises’ versus production ‘surprises’…

Source: Bloomberg

Stagflation anyone? What are you going to do Mr.Powell?