This has never happened outside of recession... Year-over-year, factory orders dropped 6.3% (adjusted) but 8% non-adjusted, the most since the financial crisis. Against expectations of a 0.5% drop MoM, manufacturers saw new orders tumble 1.0% and previous months were revised dramatically lower. Factory orders has now missed 10 of the last 11 months.
Factory Orders have fallen for 9 of the last 10 months...
[3]
Seasonally adjusted things look terrible...
[4]
Non-seasonally adjusted they look even worse..
[5]
Recession is coming...
[6]
Charts: Bloomberg
