Durable Goods Report Posts Large Gains in September
The Commerce Department is out with its report on durable goods orders for the month of September. We would caution that durable goods is one of the most volatile reports out there. The headline report showed a gain of 9.9%, but…
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The August report was lowered only by 0.1% to -13.1% from -13.2%. The ex-transportation report from the month of August was revised to -2.1% from -1.6%.
Durable goods orders reflect new orders placed with manufacturers for immediate and future delivery of factory hard goods. These are deemed to be the larger-ticket items that have a long life or three years and longer. Again, this is one of the more volatile economic readings with large swings up and down.
JON C. OGG
Contact [email protected] for any questions or corrections.
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.
