In 60 years, the US economy has not suffered a 15-month continuous YoY drop in Factory orders without being in recession. Today’s -1.9% YoY drop may suggest the slide is decelerating, but off the weakness in December (-2.9% MoM), January’s bounce +1.6% MoM missed expectations (+2.1%) notably (and Ex-Trans decline MoM).

Recession…?

 

Or different this time?


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