While total durable goods orders have stagnated below 2007 highs for the last 4 years, thanks to a better-than-expected 2.2% jump in September, the YoY gain was an impressive-sounding 8.3% (the 8th month in a row of annual gains).
Context is king…
Under trhe covers, eveything was rosy:
The question is- how muich of this is one-off demand dragged forward due to the storms?
But of course, since when did ‘hard’ economic data matter any way?
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