That is the biggest monthly [factory] jump since July, and pushed factory orders up 2.8% YoY - the biggest surge since Jan 2019..
We forget that Trump put us through a rate cycle which finished just as covid hit. We were due for a modest slow down in growth, in any event. Maybe not a recession, or maybe a mild recession; but a down grade nonetheless. So the 2019th recovery was part of tat.
California, at the time, was struggling to get local government books balanced after a series of teacher strikes. And we lost three tax initiatives to cover the short fall during the 2020 elections.
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