- Prior was +1.1%
- Ex-transport +0.3% vs +0.6% expected
- Prior ex-transport +0.4%
- Ex-defense +0.1% vs +1.3% prior
- Non-defense capital goods orders ex-air +1.6% vs +0.5% expected
- Prior +0.2%
The big data point this week was the S&P Global PMI that showed an accelerating US economy. The headline here is flat but the core orders matter much more of the underlying direction of the economy and that’s a great number that helps to back up the bullish view on the economy. The market reaction has been nil but this is another brick in the hawkish pyramid.
This article was written by Adam Button at investinglive.com.
