by Mike ‘Mish’ Shedlock
Factory orders dove 1.7% in February as reported today by the US Census Bureau.
The weakness did not stop with the headline number. January orders were revised lower to 1.2% from 1.6%.
Core capital goods plunged a whopping 2.5%, and shipments fell 0.7%.
Factory orders fell nearly in line with the Bloomberg Econoday consensus reading of -1.6% but economists did not take into account January revisions.