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Headline durable goods orders beat expectations notably in preliminary (delayed) January data (rising 0.4% MoM vs expectations of a 0.4% decline), however, excluding transportation-equipment demand, which is volatile and can move wildly on large orders in any given period, orders fell 0.1% - confirming the last six months of very modest growth (if any).
On the bright side, non-military capital goods orders excluding aircraft - a proxy for business investment - notably outperformed expectations - rising 0.8% MoM vs +0.2% expectations - the biggest jump since July.
Bloomberg - Notes - Improvement - Demand - Orders
As Bloomberg notes, the improvement in demand, underscored by orders for machinery and communications equipment, suggests a solid start to...
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