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US Economy: Jobless Claims Stable, Durable Goods Orders Surge

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Bloomberg 03:18 · 16.3k Views

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  • 00:00 It's almost like the Magic 8 ball for economists.
  • 00:03 Initial jobless claims come in at
  • 00:05 222,000, which is exactly what the consensus forecast was last month.
  • 00:10 Last week's rather revised up to 216,000.
  • 00:14 The continuing claims #1,841,000.
  • 00:18 That's down a little bit from 1878 in the prior week.
  • 00:22 Durable goods orders though.
  • 00:24 This is quite a shock.
  • 00:26 9.2% gain
  • 00:29 the last month was 1%.
  • 00:31 The forecast was for 2%.
  • 00:33 But I think what we've got here is a question about where the gains were.
  • 00:37 And my guess is we're going to see a big Boeing number.
  • 00:40 I've got to look into
  • 00:41 the actual data to find that
  • 00:44 capital goods orders, non defense X air, that's the
  • 00:48 one that goes into GDP every month.
  • 00:50 We talk about that
  • 00:51 up a 10th of a percent as forecast.
  • 00:53 So it looks like
  • 00:55 we've got an outlier somewhere and I'm going to guess that it is in the Boeing area and perhaps in automobile.