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Nice beat on durable goods!
The headline durable goods number was flat, compared to expectations of a 0.7% decline.
But even more importantly, core durable goods orders rose 1.5%. That was expected to be flat.
Given the fears of a business slowdown ahead of the cliff, this is a very positive point.
ORIGINAL POST: Coming up at 8:30 AM ET: Durable Goods Orders.
This is always a volatile number, but given the concern that businesses are slowing investment ahead of the Fiscal Cliff, it’s going to be an important one to watch.
Nomura has the preview:
US durable goods orders (8:30 EDT): Orders for Boeing planes climbed higher in October and provide support to the headline data. We expect orders to increase by 0.8% in October (Consensus: -0.7%, previous: 9.8%). Excluding the effect of transportation orders, we expect orders to decline by 0.6% in October, reflecting an earlier reported drop in industrial production of manufactured goods due to factory shutdowns around Hurricane Sandy.
We’ll have the number here live.
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