‘Slowdown’ Need Not Mean ‘Downturn’

‘Slowdown’ Need Not Mean ‘Downturn’

Durable goods orders came in well ahead of expectations for August, data out Monday showed. The 1.8% headline print easily exceeded consensus, which was looking for a 0.7% gain. The range, from 59 economists, was -3.5% to 2%. Notably, July was revised sharply higher, to a 0.5% gain from a small decline (figure below). With the previous month's revision, August's gain marked the 15th increase in 16 months. You can thank planes. Commercial aircraft bookings rose almost 80%. Non-defense capi
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