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Factory Orders Plunge 5th Month In A Row As ISM New York Crashes Most Since 2007

On the heels of the biggest crash in ISM New York since May 2007 (swinging from 9 year highs at 70.8 to 6 year lows at 44.5 in one month), Factory Orders plunged 3.4% in December (against an expectation of a 2.4% drop) - the biggest drop since Mar 2013 (ex last year's Boeing swing). Factory Orders 3.6% YoY drop is the largest since Nov09. Which explains why stocks are soaring... (despite Fed's Bullard saying "there is a lot of momentum in the US economy.")

 

ISM New York Crashed...

 

and factory orders plunged...

 

The biggest YoY drop in Factory Orders since Nov 2009.

 

Charts: Bloomberg