US Factory Orders Rise YoY For First Time In 2 Years, But Down 17% From Highs

After 22 straight months of year-over-year declines, September saw US Factory Orders rise 0.6% from the year prior.

 

The slightly better than expected 0.3% MoM gain (and upwardly revised August print of +0.4%) still leaves US Factory New Orders down 17% from the July 2014 peak of the cycle.

 

We are not sure September's bounce is too much to get excited about.