Analysts at TD Securities note that the USfactory orders came below expectations, contracting 0.6% m/m in November and extending the weak showing they had delivered in October.
Key Quotes
“Core capital goods orders fell -0.6%, while core capital goods dipped -0.2% in November. This report may reflect some earlier weakness in the manufacturing sector, which Friday’s ISM print suggests has been stemmed for now. Recall these data are quite delayed due to the long-lasting US government shutdown that affected releases for most of January.”
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