Durable Goods Orders came in at -0.9% versus consensus economist expectations of +1.2%. That’s a big miss. Durables Ex Transportation was -0.6% versus consensus economist expectations of +2.0%. Also a big miss. Initial Jobless Claims were 382 Thousand which was in line with expectations and in line with previous unemployment data.
So, taken all together with previous economic data, it looks like so far economic growth is coming in below what some economists have been predicting. It’s positive growth, it certainly appears to be sustainable growth, but it’s not exactly robust growth just yet.
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