US Factory Orders Slide For 14 Consecutive Months As Inventory Ratio Soars To Recession Cycle Highs

Tyler Durden's picture

With the Services economy now catching down to Manufacturing's demise (in its lagged - not decoupled - manner), this morning's news that US Factory Orders tumbled 2.9% in December (worse than expected and the biggest MoM drop since Dec 2014) offers little hope for any bounce anytime soon. This is the 14th monthly drop in YoY factory orders - something has not happened outside of a broad US economic recession. Even more concerning is the surge in inventories-to-shipments to cycle highs seen in 2000 and 2008.

 

 

And inventories soar to cycle highs...

 

Still the excuses pile up... weather... foreign not domestic... services will save us (oh wait!)