US Factory Orders Tumbled In June By The Most Since COVID

After surging 8.3% higher in May (amid tariff front-running and Boeing orders), US Factory orders tumbled 4.8% in June (as expected)…

Source: Bloomberg

Last month’s tariff-front-running surge up 8.3% is the second biggest monthly jump in 69 years.

June’s follow-on decline is the biggest MoM drop since the COVID lockdowns as non-defense aircraft orders slowed…

Source: Bloomberg

Core Orders (ex Transports) rose 0.4% MoM (the second monthly rise in a row)…

Source: Bloomberg

Are these headline numbers bad enough to fire the head of the Census Bureau?