By CDMediaNetwork | January 28, 2020
‘If you take out anything with a big price, the number was bad…really bad!’ they say…
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.
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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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This piece originally appeared on CreativeDestructionMedia.com [3] and is used by permission.