US Factory Order Growth Slowed Dramatically In April

With US Macro surprises slumping at near-record pace in May, and Manufacturing surveys sending mixed signals (except for soaring costs), it is no surprise that analysts expected Factory order growth to decelerate to +0.7% MoM in April (from a revised lower +1.8% MoM in March). But, growth slowed even more dramatically to just 0.3% MoM

Source: Bloomberg

On a Year-over-Year basis, Factory orders actually accelerated to a 14.0% rise from last year.

Ex-transports, orders rose just 0.3% MoM, also slowing dramatically from the 2.2% MoM rise in March.

Bear in mind this is April data, meaning all of May’s maelstrom is yet to hit.