[column size=”1-2″ last=”0″ style=”1″] Durable Goods in the U.S. have seen better days.
U.S. Durable Goods sank 13.2% in August, surprising economists who expected only a 4.7% drop.
Today’s release shows Durable Goods decreased the most since the recession. This data from August according to the Commerce Department showed the largest drop since January 2009. [/column]
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Durable Goods are items expected to last for three or more years.
The Durable Good’s decline today came along with lower than expected Pending Home Sales and GDP. Unemployment claims however, were released at 359K, less than the 378K that economists expected. Other than the unemployment claims, today was ugly news for the dollar. The stock market, however, is up and the USD has shown significant weakness today against it’s counterparts.
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