Economists React: Encouraging Details in Durables Report - Real Time Economics - WSJ
– The details of the report were more encouraging. Most importantly, core durable goods orders (nondefense capital goods ex-aircraft) remained on an upward trajectory. Core orders increased by 0.6% month-on-month in June and May’s growth rate was revised up to 4.6% from 2.1% previously… The negative aspects of the report were a sharp drop in civilian aircraft orders — a notoriously volatile component — as well as primary metals orders — which likely reflects lower prices rather than real volumes. –Zach Pandl, Nomura Global Economics
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