If you consider that the equity markets have been rising and that the U.S. has finally been decoupling itself further and further away from the woes of Europe, this number should not have been such a negative surprise.
Before hitting the panic button too hard, be sure to remember that durable goods on a month to month basis is perhaps one of the most volatile and least accurately predicted by economists. Still, -4.0% versus -0.7% (or -1.1%) expected is no good news.
JON C. OGG
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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