US Durable Goods offers further hints that manufacturing activity is beginning to stabilize – Wells Fargo
|The US Durable Goods Orders report came in above expectations in October, showing an increase of 0.6% Core capital goods orders jumped and suggest equipment spending could rebound in the fourth quarter, according to analysts at Wells Fargo.
Key Quotes:
“The October durable goods report offers further hints that manufacturing activity is beginning to stabilize. Orders were up 0.6% last month. Some of the gain was driven by a 10.7% jump in aircraft. More telling, however, was the 1.2% increase in core capital goods orders.”
“The trend in orders growth remains generally uninspiring. Core orders remain down over the past three months, while the regional PMIs for November show orders remaining weak. With global growth still struggling and uncertainty about trade policy still lingering, we expect capex to remain lackluster.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.