Tuesday, October 27, 2020
Durable goods manufacturing stabilizing?
New orders for manufactured durable goods in September increased 1.9 percent to $237.1 billion, the U.S. Census Bureau announced today. This increase followed a 0.4 percent August increase and was the fifth uptick in a row. Although the May, June, and July increases were substantially higher than in the past 2 months, the massive declines in March and April mean the year-to-date level of durable good orders are fully 10 percent below the same 9 months of 2019. Perhaps durable good orders are now in a "New Normal" pattern that is lower than the "normal" normal?
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