Today's economic news shows mixed results for the US economy

Argonath Financial
Today's economic news shows mixed results for the US economy. On one hand, consumer confidence climbed higher than expected. The Consumer Confidence Index jumped from 89 last month to 94.5 in October. The median forecast from economists was 87. A favorable view of the current job market and business conditions helped drive the improvement. On the other hand, durable goods once again missed expectations. New orders for durable goods dropped 1.3%, while economists projected a 0.5% increase. Minus transportation, the number dropped just 0.2%, but excluding defense, new orders dropped 1.5%. Lower demand for machinery and computer equipment drove the unexpected decline. However, it's important to keep this in perspective. Durable goods order are still 7.6% higher than at this time last year. In other words, still no reason to raise any red flags on the economy. (VIEW LINK) (VIEW LINK)
Welcome to Livewire, Australia’s most trusted source of investment insights and analysis.
To continue reading this wire and get unlimited access to Livewire, join for free now and become a more informed and confident investor.

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
Expertise
No areas of expertise

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
Expertise
No areas of expertise