Factory orders has a sawtooth pattern over the last 3 months
- Prior month -2.1%
- Factory orders 1.2% versus 0.2% expected
- Factory orders ex-transportation for August 1 .4% versus 0.9% last month (revised from 0.8%)
- Durable goods order revised 0.1% versus 0.2% preliminary and -2.1% last month
- Durable goods ex-defense -0.7% versus -0.7% preliminary. Last month -6.0%
- Nondefense capital Ex-Air 0.9% versus 0.9% preliminary. Last month -0.4%
- Durable goods ex transportation 0.4% vs 0.4% preliminary. Last .0 .1%
Factory orders rebounded from the prior month’s sharp decline, and has seen a sawtooth pattern over the last 3 months with big gains and losses. The last 12 months have seen 8 months with gains and 3 months with declines (there was 1 unchanged month).
The US dollar has moved higher, and yields have moved off their low levels. The Dow industrial average and S&P index are now trading in negative territory and at session laws. The NASDAQ index is holding onto a 0.14% gain.