'More Grist for the Grinder'
Russell E. Towne | October 5, 2023
AUTHOR: TOWNE WEALTH MANAGEMENT.NET/BLOG 10/5/2023: Towne Wealth Management BLOG:
‘More Grist for the Grinder’
It looks like U.S. manufacturing has bottomed and is possibly rebounding, suggests a Commerce Department's monthly report on factory orders which jumped 1.4 percent in August after falling 2.1 percent in July, reports the Breitbart Business Digest 10/4/2023. This is significantly better than the small 0.2 % increase that Wall Street had projected. More specifically, factory orders have risen in five out of the last six months, including four straight months of gains prior to July which now looks like an outlier. Therefore, ‘More Grist for the Grinder’ that a recession is not near.
With these facts and Holiday sales about to be upon us, it’s starting to feel
a little bit more like Christmas… But then… there’s Fed Chair Powell, one more interest rate increase (maybe) and Halloween….
Boo… again!!!
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Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
The opinions expressed in this material do not necessarily reflect the views of LPL.