May Factory Orders up 0.7

by Marilou Moursund on July 3, 2012

in Economic Indicators

May factory orders came in better than expected at up 0.7 vs. April at -0.7. Auto sales have also been slightly better than expected. This is in contrast to the June ISM number released yesterday that fell below 50% for the first time since the recovery

began. It came in at 49.7% vs. expectations of 52.3%. As the linked article indicates, it needs to be below 47% to indicate recessionary levels. The main question facing the markets this summer is whether domestic growth will be strong enough to offset continued weakness in Europe and China.

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