US Factory Orders Tumbled In Feb As ISM Signals Collapse To Come

After January’s headline factory orders tumbled MoM (following December’s unexpectedly large jump), consensus estimates are for February to see a further (0.5%) decline (which would fit with the declining ISM data yesterday). However, Feb Factory Orders tumbled 0.7% MoM (and worse still, January was revised down to a 2.1% decline)…