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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 9:05:49 AM
From: mishedlo  Read Replies (2) of 116555
 
U.S. durables report stronger than it looks: economists By Rex Nutting
WASHINGTON (CBS.MW) -- Forward-looking details of the U.S. September durable-goods orders report are much stronger than the 0.2 percent headline number suggests, economists said Wednesday. "Outside of the transportation sector order decline, this is a very strong report, suggestive of a meaningful pickup in business investment activity in the fourth quarter," said Mat Johnson, chief economist for ThinkEquity Partners. However, the shipments data in the same report were weaker than expected, causing Action Economics to lower its third-quarter gross domestic product estimate from 4.7 percent to 4.4 percent. Action said hurricanes cut into production, but not orders, in September.
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