Durables

Karim writes:

  • Strong underlying data, though series very volatile
  • Orders ex-aircraft and defense up 4.1%
  • Here is what the last 6mths look like: +4.1%; -5.3%; +3.6%; +4.7%; -2.8%; +6.7%
  • Y/Y gwth is 22.2%
  • Trends look like reversal of prior month: auto sector weaker, computers and machinery stronger
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