US Durable Goods Orders Revised Lower... Again!
Preliminary data for October shows that headline US durable goods orders fell 0.8% MoM (slightly better than the -1.0% MoM expected), leaving orders down 2.9% YoY...
Source: Bloomberg
Core orders (ex-Transportation) rose 0-.4% MoM (-0.1% exp)
Orders placed with US factories for business equipment declined in preliminary October data and the prior month’s gain was revised lower, suggesting firms are more guarded about investment.
Source: Bloomberg
However, for the 6th month in the last seven, durable goods orders were revised lower (August revised from 0.0% MoM to -0.8% MoM!)...
Source: Bloomberg
How is The Fed - or anyone - supposed to make 'decisions' when the data is revised so aggressively and consistently?
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