Here come durable goods orders ...

The latest reading on durable goods orders is set for release at the bottom of the hour.

Expectations are for the report to show orders fell 0.7% in December after orders were flat in November.

This is a series tabulated in nominal dollars, and so the decline is expected to largely reflect the impact that the strong dollar has had on import prices. Namely: they have gone down.

Excluding transportation and defence orders, orders are expected to rise 0.8%.

We’ll be back with he live numbers when they drop.

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