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In June, US manufacturing orders saw a sharp decline of 3.3% compared to May, surpassing economists' expectations of a 3.2% drop. The previous month experienced a smaller decrease of 0.5%, according to the US Department of Commerce.
Durable goods orders fell by 6.7% in June, a slight revision from the initially reported 6.6% decrease. Excluding defense, orders decreased by 3.4%, while orders excluding transportation edged up by 0.1%.
JP Morgan anticipates a 50 basis point interest rate cut in September.
Is JP Morgan ever right? US has been struggling for a while with manufacturing, wasnt that TSMC plant in arizona supposed to bring us a lot of business? Total sinkhole....
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20 sats \ 1 reply \ @TomK OP 3 Aug
remember that JP Morgan is the largest owner of the New York Fed
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Does the fed own JP Morgan, or does JP Morgan own the fed?
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i love how their expectations are always just .1% off, like how can they always be so close
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Are these mathematical calculations so important? Why dpnf these govs just hand over money and economics to people. It will save them a lot of shame!
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