Durable goods orders data:
– Prior durable goods orders nondefense ex-air revised to +0.8% vs +1.5%
– Overall durable goods orders 0.0% vs -1.5% exp
– Prior durable goods orders +4.4% (revised to +3.6%)
This report isn’t as good as it seems. The revisions take away all the surprise to the upside in core orders and the weak shipments numbers will lead to downward revisions to Q3 GDP estimates.
