mishtalk.com / Mike “Mish” Shedlock / November 3, 2016
Thanks to motor vehicles and parts, factory orders rose 0.3% in September according to a Commerce Department report on Manufacturers’ Shipments, Inventories, and Orders.
The Commerce Department revised August from +0.2% to +0.4% also because of motor vehicles and parts, making the effective jump a substantial 0.5%.
The good news stops right there. Capital good and core capital goods new orders look ominous.
Capital Goods are tangible assets such as buildings, machinery, equipment, vehicles and tools that an organization uses to produce goods or services in order to produce consumer goods and goods for other businesses.
Core Capital Goods
Core capital goods orders, a leading indicator of future growth, are defined as non-defense, non-aircraft capital goods orders.
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