Durable goods orders crush expectations, rising 0.7%.
That’s well above 0.3% that was expected.
Excluding transportation, durable goods rose 1.6% vs. expectations of a decline of 0.2%.
The key thing you need to realise is that this was supposed to be bad, because everyone is supposed to be paralysed due to pre-Cliff fears. And that’s not happening.
ORIGINAL POST: A big number is coming up: Durable Goods Orders for November.
The consensus is for growth of 0.3%. That compares to a flat reading last month.
Durable goods is always a volatile number, but because people are worried about a pre-Cliff investment freeze, this number is being watched closely.
Excluding transportation, a decline of 0.2% is expected.
We’ll have the number here LIVE at 8:30 AM ET.