US Core Factory Orders Unexpectedly Plunge Most In A Year

US Core Factory Orders Unexpectedly Plunge Most In A Year Despite the latest Manufacturing PMI surging to four year highs, US Factory Orders unexpectedly dropped in June (-0.3% MoM vs +0.2% MoM expected). This is the second monthly decline in the headline print in a row, but orders remain up 7.4% YoY... Source: Bloomberg Worse still, Core Factory Orders (excluding Transports), dropped 0.4% MoM (dramatically missing expectations of a 0.4% MoM rise). This is the first monthly drop since October and biggest MoM decline since April 2025... Source: Bloomberg Orders Ex-Defense also tumbled 0.4%...