‘If you take out anything with a big price, the number was bad…really bad!’ they say…
UPDATE: Just more really good news for the American economy…
Richmond Fed Manufacturing Index printed way above the estimate of 9, coming in at 20.
Consumer Confidence printed at 131.6 vs 128…way above estimates.
The amount of ‘big ticket items’ the United States ordered in December beat estimates…period. However, the anti-Trump media, desperate to find and straw to clutch for destroying Trump’s ‘economic miracle’ narrative, grabbed on to a slice of the data.
CNBC crowed: ‘US core capital goods orders post biggest drop in 8 months!’, before admitting the overall number beat estimates. Kind of like, ‘Well if we take out anything with a big price, the number was bad, really bad!’
Durable Goods Orders (Dec) printed at 2.4% vs estimate of 0.5%.
Durable Goods Orders ex Defense (Dec) printed at -2.5% vs 0.5% estimate.
Durable Goods Orders ex Transportation (Dec) printed at -0.1% vs 0.2% estimate.
Nondefense Capital Goods Orders ex Aircraft came in at -0.9% vs 0.0 estimate.
CNBC was forced to admit however, home prices continue to rise…
S&P Case Shiller Home Price Indices (YoY) (Nov) printed at 2.6% vs 2.4% consensus estimate.
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