WTF Chart Of The Day - Factory Orders Collapse To Longest Streak In US History

For the 19th month in a row, US Factory Orders decline YoY (-1.2% for May) with a 1% drop MoM. Simply put, in 60 years of historical data, the US economy has never, ever suffered a 19 month stretch of consecutive annual declines...

 

 

And yet we are supposed to believe there is no recession?

What happens next? 

 

Charts: Bloomberg