{"id":6881,"date":"2009-12-28T11:30:31","date_gmt":"2009-12-28T16:30:31","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=6881"},"modified":"2016-09-20T05:52:22","modified_gmt":"2016-09-20T09:52:22","slug":"durable-goods-reading-the-finer-print","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2009\/12\/28\/durable-goods-reading-the-finer-print\/","title":{"rendered":"Durable Goods &#8211; Reading the Finer Print"},"content":{"rendered":"<p>The Durable goods orders report was headlined at a plus 0.2%, as opposed to expectations for a rise of 0.5%. But, when we strip out transportation, the 2.9% increase was far better than the 1.0% economists had anticipated.<\/p>\n<p>While the total durables were disappointing, in an environment that continues to look for silver linings in any report, this is seen as a good number. AND, with all due respect, it may actually be. <!--more-->Either way, it was not so far off of the mark as this series has been volatile over the past 12 months.<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2009\/12\/durablegoods12242009-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-6892 aligncenter\" title=\"durablegoods12242009\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2009\/12\/durablegoods12242009-1.jpg\" alt=\"\" width=\"607\" height=\"354\" \/><\/a><\/p>\n<p>Revisions upward are encouraging and when some of the additional stimulus hits (cash for appliances, cash for caulkers) it will probably continue to help month-over-month orders. It would be nice to see a &#8220;pure&#8221; series for a while that excluded any stimulus benefit to see just how much demand is actually returning.<\/p>\n<p>From <a href=\"http:\/\/www.briefing.com\"><strong>Briefing.com<\/strong><\/a><\/p>\n<blockquote><p>Total orders for durable goods in November increased 0.2% (consensus 0.5%)  after an unrevised 0.6% decline in October. \u00a0 Excluding transportation,  orders jumped 2.0% from October (consensus +1.1%), which saw an upward revision  to a 0.7% decline from a previously reported 1.3% decline.<\/p>\n<p>Shipments were up 0.3% in November on top of a 0.7% increase in October.<\/p>\n<p>Similarly, nondefense capital goods, excluding aircraft &#8212; a proxy for  business investment &#8212; increased 2.9% after a 2.0% decline in October.<\/p>\n<p>The November durable goods data will factor favorably in Q4 GDP forecasts.<\/p><\/blockquote>\n<p>___<\/p>\n<p>Disclosure: <a title=\"Horowitz &amp; Company\" href=\"http:\/\/www.horowitzandcompany.com\">Horowitz &amp; Company<\/a> clients may hold positions of securities mentioned as of the date published.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Durable goods orders report was headlined at a plus 0.2%, as opposed to expectations for a rise of 0.5%. But, when we strip out transportation, the 2.9% increase was far better than the 1.0% economists had anticipated. While the total durables were disappointing, in an environment that continues to look for silver linings in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,12],"tags":[481,483],"class_list":["post-6881","post","type-post","status-publish","format-standard","hentry","category-economy","category-markets","tag-economy","tag-markets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/6881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=6881"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/6881\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=6881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=6881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=6881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}