US Factory Orders Surged In November - Biggest Jump Since Jan 2021, But...

After plunging in October, US Manufacturers New Orders were expected to rebound significantly in November as the noisiest time series in America continues to flip-flop (despite US Manufacturing surveys going in only one direction - lower). Sure enough, Factory Orders rose 2.6% MoM (+2.4% exp) and October's 3.6% decline was revised modestly hiugher to a 3.4% MoM decline. The 2.6% MoM jump is the biggest since January 2021 and dragged orders up 3.1% YoY...

Source: Bloomberg

Core factory orders rose just 0.1% MoM (leaving core orders down 0.8% YoY)...

Source: Bloomberg

So manufacturing orders surged as manufacturers survey data continues to suggest anything but strength...

Source: Bloomberg

WTF is going on here?