US Recession Imminent As [Annualized] Factory Orders Plunge For 8th Consecutive Month

04-Jun (ZeroHedge) — For the 8th month in a row, US factory orders fell YoY. Down 6.2% in June, this is the longest streak of declining factory orders outside of a recession in history. MoM, factory orders rose 1.8% – as expected – the most since May 2014 but historical orders and shipments were revised lower. Inventories contonue to rise leaving inventories-to-shipments ratios at cycle highs.

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