US Factory Orders Contract For 2nd Month In A Row As War-Spending Plunges | WHAT REALLY HAPPENED

US Factory Orders Contract For 2nd Month In A Row As War-Spending Plunges

Having fallen for two straight months, and despite the decline of US (and the rest of the world's) Manufacturing PMIs, expectations were for a rebound in Factory Orders in June and they did, rising 0.6% (but less than the expected 0.7% MoM gain following a major downward revision for May to a 1.3% drop).

New orders ex-trans rose 0.1% in June after falling 0.03% the prior month

New orders ex-defense for June rise 1.1% after falling 0.8% in May

However, this is the second month in a row of year-over-year factory order declines.

Webmaster's Commentary: 

This economy appears to be headed to hell in a hand basket, and I seriously doubt that there is anything to be done to change that, other than declare a massive war against the usual "suspects du jure"; that .... has, historically, lifted the US out of a depression.

But the question must be, against whom will this war be fought?!? Please, not against China or Russia, as both of them still conscript; have developed some incredible weaponry, and Russia has assisted Syria in getting rid of the US trained/funded/armed jihadis.

Wait, I know: Lichtenstein!!! :-)

You are welcome, Mr. President!!

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