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.
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