While headline durable goods orders showed a 2.9% MoM surge, but away from aircraft orders and war-spending, capital goods orders dropped 0.3% MoM in December – the most in 12 months.
But this surge was all thanks to aircraft and war-spending:
- Bookings for commercial aircraft climbed 15.9 percent
- Defense capital goods orders increased 19.5 percent
So, at the core, orders tumbled most in a year…
In other words, we’re gonna need more war to get that GDP up over 3.0%…
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