This was a slight downward revision. Nothing to cheer and really nothing to write home about.
September Durable Goods were revised down .1% MoM in Sept and .05% MoM in Aug.
Here’s a picture of Factory Orders. Looking at this time series, it’s almost as if the recession that has been 2 years in the waiting was merely coming off a covid fever sugar high. Orders briefly went negative, but now climbing. Let’s see if we can maintain the positive momentum from Q3, stay tuned.
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