At first glance the 4.2% m/m surge in July's durable goods orders looks very impressive, but nothing could be further from the truth. This is a very weak report. The slump in core capital goods orders points to a marked weakening in business investment, which will only strengthen the Fed's resolve to act soon.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services