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: Bloomberg
But, 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: Bloomberg
So take your pick…
Source: Bloomberg
As always baffle ’em with bullshit on these noisy datsets.
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