US Factory Orders were expected to rise for the 8th straight month in December and they did , outperforming expectations with a 1.1% MoM jump (+0.7% exp) and November was revised higher from +1.0% MoM to +1.3% MoM...
However, as the chart above shows, the YoY growth faded back to -0.8%.
And overall, US factory orders are rapidly catching up to pre-COVID levels...
It took 4 years to recover from the 2008 plunge in production. The 2020 drop took 8 months!
So, presumably we don't need another $2 trillion in "stimulus", right?