US Factory Orders Jumped More Than Expected In August... Thanks To War

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by Tyler Durden
Wednesday, Oct 04, 2023 - 02:21 PM

After July's 2.1% MoM plunge, US Factory Orders rebounded in August (+1.2% MoM vs +0.3% exp), which managed to pull the year-over-year change in orders into the green (+0.5% YoY)...

Source: Bloomberg

Core factory orders rose even more impressively, jumping 1.4% MoM (vs just +0.2% MoM exp). That's the biggest MoM jump since Jan 2022, but left core factory orders down 0.9% YoY...

Source: Bloomberg

Excluding Defense, orders grew at only 0.8% MoM as Defense orders jumped 18.6% MoM...

What would America's economy do without war?