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US Durable Goods Orders Soar In October, Shipments Spike
Analysts expected a small rebound in preliminary October Durable Goods Orders after September's disappointing decline in core orders and CapEx. They were right... The headline orders print soared 1.0% MoM, smashing expectations of a 0.4% MoM rise. That is the 3rd straight month of rising orders and leaves the YoY gain at 10.7%. Core (ex-transportation) orders shot up 0.5% MoM (even after seeing September's print revised lower to -0.9% MoM). The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.7% last month after a downwardly revised 0.8% ... (full story)
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From think.ing.com|Nov 23, 2022This morning's US data is a little mixed. The good news is that the durable goods report is solid and points to business capex holding up well in the fourth quarter. We always ...
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- Posted: Nov 23, 2022 11:06am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 142
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