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US Factory Orders Miss Again, Drops Year-Over-Year For 11th Month In A Row
It's just factory orders...ignore it. For the 11th month in a row, US Factory Orders have fallen year-over-year, re-acclerating the most recent drop to -6.9%, something that has not happened outside of a recession in history. In fact, adjusting for the one-off Boeing surge in July 2014 this is biggest Y/Y drop since October 2008. Month-over-month, orders fell 1.0% (more than expected), down for the 11th month in the last 14. The good news is that inventories dropped 0.4% (for the 3rd month in a row) but that will further hurt GDP, but, unfortunately, inventories-to-shipments remain at 1.35x cycle highs.
History revised lower...
- *FACTORY ORDERS FELL 2.1% IN AUGUST, REVISED FROM 1.7% DROP
Recession much?
Finally Capital Goods (non-defense) plunged 7.4% in September (and is down 12.9% YoY).
Charts: Bloomberg
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Bleeding out.
"All bleeding stops eventually."
It does look at 2007 all over again, except that we are at 0 rate right now, and still in panic mode.
Yes, they're out of policy options, but they're never out of denial. They'll deny this recession (within the larger overall depression) to the bitter end. Numbers will be changed, counter-arguments offered, critics silenced by any means necessary.
That's why I've often said on ZH that none of us will live long enough to see the next officially declared recession.
Denial is very strong.
I once worked with a guy who had a vasectomy. Went 10 or 15 years without an ‘accident’. Then one day, ‘somehow’ his wife was pregnant.
Who says he is the father? And what has it to do with denial anyway?
Come on ..... of course he was NOT the father, the denial is linked to that blockhead would-be not willing to admit his wife was adulterous.
Must have been due to the sunny weather in summer. Fuck you Al Snore.
Jedi mind trick.
The Recession Awakens.
Impending wars with China/Russia wiill do wonders for factory orders - if any factories left.
Maybe we can have China build us our war machines and ship them directly to the battlefront so we can save on delivery charges.
That would be the sustainable thing to do. Al Gore would would be proud.
free: Pink Slips stocking stuffers
time for MOAR stock buy backs and layoffs, all is well.
Can somebody tell me what we're building in these so-called 'factories', and at what level of export in comparison to import...? I understand the U.S. has a 'manufacturing base' - to a degree, but with the constant 'ISM' and 'factory output' data that streams in on a regular basis, it might lead one to think we're making (here) and exporting (there) a whole bunch of stuff, no...?
What does this article even mean?
2015 U.S. auto sales are all records. Don’t cars come from manufacturing?
"2015 U.S. auto sales are all records. Don’t cars come from manufacturing? "
One Pct down and 7-10 years of payments. I drive by literal shanty's with brand new Chargers parked out front. Doubt this will end well.
Yes, cars come from manufacturing but where is the manufacturing? Most of the pieces are foreign made and are only assembled here. The electronics gizmo's everyone likes, all made in Malaysia or China. Same with the Engine Control Units, lights, Seat materials, rubber, sensors, etc.
Even a lot of the tools of war are foreign made with only the 'sensitive' parts, software made in USA.
You may be at the wrong website with your mindset. CNBC and Market Watch are very good sites for the believers.
More money borrowed in 2015 than ever before, the economy must be booming.
The old rules no longer apply
When are they gonna call this a recession? Somehow I feel they never will. The house of cards can't handle it.
BULLISH!
BTFD!!!
Just as most of you already know. There will not be another recession. Ever. Socialism does not allow for that outcome. Got it.
I'd venture to guess that auto sales are way down, YoY, judging by what salesmen and suppliers are telling me, as of late.
Keep stacking, folks.
But the subprime auto industry is exploding and I bet VW would sell a $30,000 car to a $30,000 a year worker.
I don't understand why orders would be down. With oil prices at record highs, wouldn't oil companies be spending billions on capex?