Do you want the good news… or the bad news?
Good news is that US factory orders rose 1.6% MoM in March and were revised up toi a 1.6% MoM rise in February, bouncing back from an ugly January. This implies an 8/1% YoY rise in factory orders…
Bad news is that the final revisions to durable goods data for March show core shipments crashing most since May 2016…
So you decide – glass half full, glass half empty, or glass smashed on the floor’s reality of a collapsing China credit impulse?
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