April Factory Orders Crash By The Most In American History
by Tyler Durden
ZeroHedge.com
Wed, 06/03/2020
Having collapsed by a record 10.4% MoM in March, April factory orders were expected to accelerate even lower and it did. However, the 13.0% plunge in April was modestly better than the 13.4% MoM drop expected… but is still the worst in American history.
Source: Bloomberg
Year-over-year, factory orders collapsed 22.3% – the worst since the peak of the financial crisis.
Ex-Transports, orders fell 8.5% – a record drop…
But apart from that, we are sure the stock market knows better!!
