It was the best of times, it was the worst of times…The preliminary headline US durable goods order data for November shows a much worse than expected 1.1% MoM decline (-0.3% exp) which dragged orders down 6.3% YoY on fewer orders for commercial aircraft.
Source: BloombergBut, orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, increased 0.7% last month after a revised 0.1% decline in October.
Source: BloombergSo take your pick…
Source: BloombergAs always baffle ’em with bullshit on these noisy datasets.More By This Author:Tesla’s Market Cap Nears Half Of Global Auto IndustryCocoa Biggest Commodity Winner Of Year As Food Inflation “Enters Dangerous Territory”Eggflation: Dozen-Pack At Supermarket Hit Record Highs As Bird Flu Ravages Farms
