August US factory orders

  • Prior revised to -0.4% from -0.2%
  • Ex-transport -0.8%
  • Prior ex-transport revised to -0.7% from -0.6%
  • Cap goods orders non-defence ex air revised to -0.8% m/m
  • Cap goods orders non-defence ex air originally reported at -0.2% m/m
  • Durable goods orders ex transport revised to -0.2% from 0.0%

When it rains, it pours. The headline is soft and the downward revisions to core durable goods orders are troubling.

The Fed would look so bad right now if they had hiked two weeks ago.