Recession Countdown: Durable Goods Orders Drop Most Since March, Shipments Tumble

– Recession Countdown: Durable Goods Orders Drop Most Since March, Shipments Tumble:

Durable Goods New Orders dropped 2.0% MoM in August, the biggest drop since March (but modestly beat expectations of a 2.3% drop). This extends the ex-transports YoY losing streak to 7 months of declines flashing recessionary warnings left and right. Perhaps most notable is the 0.2% drop in Capital goods Shipments (dramatically missing expectations of a 0.5% rise) and the weakest print since May.

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