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AI Spend Lifts Core US Durable Goods Orders Rise For 17th Straight Month In August
AI Spend Lifts Core US Durable Goods Orders Rise For 17th Straight Month In August
With PMIs soaring to multi-year highs earlier in the week, US durable goods orders were expected to be mixed in preliminary August data.
And mixed it was (with plenty of revisions)... the headline print was unchanged MoM (better than the 0.3% MoM decline expected) with a small revision lower for July.
Boeing reported fewer orders in August compared with the prior month.
However, Ex-Transports disappointed, rising just 0.3% MoM (half the expected 0.6% MoM rise) with a revision...
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We're still trying to settle on a name for the new "Rust Belt" for blue states, where high taxes, de-growth climate policies, permitting paralysis, and an obsession with woke governance have sparked a historic outflow of people, businesses, and capital to red states.
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