US Durable Goods Orders – Forex Trading Update
Joseph Trevisani, Chief Market Analyst at leading Forex trading broker FX Solutions (http://www.fxsolutions.com/), provides a report of US Durable Goods Orders on 28th September.
\”Orders for goods designed to last more than three years fell slightly in August but performed better than expected and orders by companies jumped almost three times the forecast.
The headline number for all goods in the economy, consumer and business, declined 0.1%; -a fall of 0.2% had been predicted in the Bloomberg survey of economists. The July number was revised up to 0.1% to 4.1%.
The August improvement in non-defense capital goods excluding aircraft, synonymous with business equipment investment, shot up 1.1%, well ahead of the 0.4% prediction. The July result was revised sharply higher to -0.2% from -1.5%.
Business investment has been one of the steady drivers of the economic recovery that began in mid-2009. Today\’s number seem to indicate that despite consumer retrenchment business executive still view this as a good time to improve the competitive position of their firms.\”
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