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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (14128)10/27/2004 8:56:11 AM
From: zonder  Read Replies (1) of 116555
 
Durable goods orders inched up 0.2% in Sept., but the increase was due to a 26.5% increase in defense spending. Non-defense spending was down 0.9%. The nondefense capital goods shipments were down in Sept, suggesting a slight drag on 3Q GDP, but orders were up, so, 4Q looks good. On balance, this was a ho hum number with a lot of softness. [Dow Jones}

Economist Steve Stanley of RBSGC says Sept durable goods was a mixed bag. He says "Excluding defense and aircraft, durable goods bookings slipped by 0.4%" and the breakdown by category was all over the place. [Market News International]
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