Disappointing data this.
Machinery Orders (MoM) (September) -1.7%
- expected 1.9%, prior -1.9%
Machinery Orders (YoY) (September) +4.8%
- expected 2.2%, prior -3.4%
More:
- for the July - September quarter machine orders fell 1.3% q/q
- October -December machinery orders are forecast at +5.7% q/q
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Core machinery orders data is a highly volatile series
- its used as a leading indicator of capital spending in the coming six to nine months