As I was looking for news coverage of Thursday's horrid factory orders report from the Census Bureau late last week, I came across an incredibly optimistic Blomberg News report by Victoria Stilwell.
The headline of her story on July 1, the day before that factory orders release, read: "Factories Making a Comeback as U.S. Domestic Demand Picks Up." My reaction: On what planet? It turns out that Stilwell based her assessment on largely on a survey, namely the June Manufacturing Index published by the Institute for Supply Management earlier that day.