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August Factory Orders Miss, Plunge Most On Record
Surprised? Following last month's 10.5% record rise in Factory Orders, August just printed -10.1% MoM - the biggest drop on record. While some give-back was excpected this is notably worse than the expected drop of -9.5% (the biggest miss since January 2014). Worse still durables orders cratered 18.4% (and non-durables dropped 0.4%) MoM and ex-transports dropped 0.1% - the 3rd drop in the last 4 months. So - in summary - last month saw a $56 billion rise and this month saw a $55.8 billion drop - 'economic growth' roundtripped... as inventories rose 0.1% and shipments fell 1%.
as Transportation collapsed...
Charts: bloomberg
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Ho Li Fuk, Wi Tu Lo
I blame the September snow!
It's the legalized pot in Washington and Colorado.
The main problem with this is that it is not legal EVERYWHERE!
Its called winning ......
We are so fucked!
IT'S BECAUSE YOU'RE TO NEGATIVE!
YOU SCARED OFF THE UNICORNS!
I remember my parents and grandparents talking about the great depression which will soon be known as the good old days....
need more seasonal adjustment.....
Remember what I said in May 2013, that economy will collapse if QE continues, because world will avoid doing REAL TRADE in USD?
Again, my 2014 GDP calculations, made in Jan 2014:
ALL NEGATIVE
USA, -4%
CANADA, -2%
EU, -6%
GERMANY, -2%
JAPAN, -5%
CHINA, -8%
WORLD, -5%
I think I got it right
Dude, can I have your autograph.
When you dance to the music the piper must be paid, I just hope he accepts toilet paper money.
More about the manufacturing renaisance in the US. Propaganda and spin, that's all we'e allowed to see now until the masters step out behind the curtain. Incredible that this is happening in the US
I didn't believe the +10% number for July, so why would I believe the -10% number for August?
It's flat to declining, it has been for years and that's the end of the story. There will be no "escape velocity". There will be no "self-sustaining recovery". We are in a DEPRESSION and debt has not been allowed to revert to it's equilibrium. This is the end result of that course of action.
Best be dropping some moar humanitarian bombs quick El Presidente Zero. We need those MIC factories up and running. After all CNBS tells me manufacturing is making a comeback in the U.S. Just ask Detroit.
the threat of cold weather in N america, caused this drop..as the data from last winter was prime cause of economic weakness, follows the logic ..never the fault of economic policy never.
Release the Bulls, this is the best bad news of the week.
If you had a manufacturing business you could not operate with this kind of spread...20% changes every month.....
Rounding the corner
Anyone seen that worthless affirmative assclown obama?
Who cares about manufacturing in the US, it represents 9% of a manufactured number to begin with. I'm sure healthcare will be picking up the slack.
They aren't counting GPRO ....oh wait they are down 10% too
So this is good news right? It has to be better than expected. It can't be any other way. So sez CNBS!
BOOM -- BUST....Yellen is my Hero. Is there a claw back on Obama's cronyism?
Common Core will fix these numbers.
At least when they use the "Ebola excuse" for the drop in Q-4 GDP, we'll know they're telling the truth as we watch our friends and loved ones drop like flies around us.
but...but...buttt...Obamster sez all is well......
LOL, keep piling into stocks. Warren Buffet says he's a buyer. He bought some token shares for November's DNC huge November senate election.
Ebola won't be priced in until the numbers become much higher.
good god, this is just a reversal of the previous months outsized gain... The general economy in the USA especially in the northeast in the NYC - New England region is still really strong.
Can you imagine... Ebola out breaks in the major East & West coast metropolitan areas? Even if only (1) ea. in L.A., New York, S.F., Seattle, New Jersey, etc...?
Get ready, because air travel as you know it is about to come to a stand-still. Give it 90 days at the outside.
FEAR: Trade of the century Millennium...
Bomb sales up bomb sales down! Simple.
CDC needs to tell WHO that any airplane flying out of Liberia and other Ebola countries must be destroyed.
Ramp those airplane sales to make everything NORMAL