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Durable Goods Orders Disappoint, But Military Spending Saves The Day

Courtesy of ZeroHedge. View original post here.

After two months of declines, Durable Goods Orders were expected to rebound handsomely in June… they didn't.

Against expectations of a 3.0% MoM surge in Durable Goods Orders, the Census Bureau reported a meager +1.0% increase…

This is the biggest miss since Oct 2017

However, thanks to the military-industrial complex – which saw defense spending rise 20.2% MoM – the number remained positive…

This is the 3rd month in a row of massive monthly increases in military spending.

Remember, war is a racket.

The silver lining in the report is that shipments of those goods, used to calculate gross domestic product, rose 1% (beating the expectations of a 0.4% rise) after a 0.2% increase…

This is the best monthly gain since Sept 2017.


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