{"id":1481222,"date":"2024-08-02T16:10:00","date_gmt":"2024-08-02T20:10:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1481222"},"modified":"2024-08-02T16:10:00","modified_gmt":"2024-08-02T20:10:00","slug":"growth-scare-narrative-builds-as-us-factory-orders-plunge-most-since-covid-lockdowns-in-june","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/growth-scare-narrative-builds-as-us-factory-orders-plunge-most-since-covid-lockdowns-in-june\/1481222\/","title":{"rendered":"‘Growth Scare’ Narrative Builds As US Factory Orders Plunge Most Since COVID Lockdowns In June"},"content":{"rendered":"

‘Growth Scare’ Narrative Builds As US Factory Orders Plunge Most Since COVID Lockdowns In June <\/span><\/p>\n

\n

After this week’s ‘soft’ survey data <\/strong>signaled serious ugliness in the US manufacturing economy…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…this morning we get ‘hard’ data confirmation<\/strong> as US Factory Orders plunged 3.3% MoM in June (the biggest MoM drop since COVID lockdowns), dragging orders down 3.6% YoY (also the worst since COVID lockdowns)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The final durable goods orders print was worse than the initial – down a shocking 6.7% MoM…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

All of which is adding to the ‘growth scare’ narrative <\/strong>that has been quietly accelerating…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

How long before The Fed is forced into dovish retreat (adjusting its two-cuts-by-year-end forecast to the market’s four cuts!).<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 08\/02\/2024 – 12:10<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/economics\/us-factory-orders-plunge-most-covid-lockdowns-june<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

‘Growth Scare’ Narrative Builds As US Factory Orders Plunge Most Since COVID Lockdowns In June After this week’s ‘soft’ survey data signaled serious ugliness in…<\/p>\n","protected":false},"author":0,"featured_media":1481223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1481222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6dkG","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/08\/bfm68F6_0-IR7yMI.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1481222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1481222"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1481222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1481223"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1481222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1481222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1481222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}