New factory orders remain an economic bright spot – by New Deal democrat New factory orders for October were reported this morning. I normally don’t write about them, because they are very noisy, but since at the moment they are one of the few bright spots among the short leading indicators, let’s take a look. Total new factory orders rose 1.0%. “Core” orders excluding defense and aircraft rose 0.6%: “Core” orders have been flat for 2 months, which may or may not portend a turning, but as you can see from the below longer term view, typically factory orders turn down or at least flatten in the months before a recession – although it’s frequently only apparent in retrospect: Consumer durable goods orders are also a short leading
Topics:
NewDealdemocrat considers the following as important: Hot Topics, US EConomics
This could be interesting, too:
NewDealdemocrat writes JOLTS revisions from Yesterday’s Report
Joel Eissenberg writes No Invading Allies Act
Bill Haskell writes The North American Automobile Industry Waits for Trump and the Gov. to Act
Bill Haskell writes Families Struggle Paying for Child Care While Working
New factory orders remain an economic bright spot
– by New Deal democrat
New factory orders for October were reported this morning. I normally don’t write about them, because they are very noisy, but since at the moment they are one of the few bright spots among the short leading indicators, let’s take a look.
Total new factory orders rose 1.0%. “Core” orders excluding defense and aircraft rose 0.6%:
“Core” orders have been flat for 2 months, which may or may not portend a turning, but as you can see from the below longer term view, typically factory orders turn down or at least flatten in the months before a recession – although it’s frequently only apparent in retrospect:
Consumer durable goods orders are also a short leading indicator. They were unchanged for the month:
With other measures of manufacturing from the regional Feds and ISM showing pronounced weakness, it’s a little surprising that it hasn’t shown up here.
Anyway, in the interest of balance, there are still some bright spots.