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Get Ready For What Could Be One Of The Craziest Numbers You'll Ever See In A US Economic Report
On Tuesday, August 26, the Census will release its advance report on durable good orders for July. Expectations are for the headline reading to show orders grew 8%, according to data from Bloomberg. But according to Wall Street economists, that number could be as high as 38%. The reason? A massive number of planes were ordered in July. "Swings in aircraft orders are the key driver of short-term volatility in the headline durable goods number via their impact on the transportation component," writes Ian Shepherdson at Pantheon Macroeconomics. Shepherdson notes that Boeing recorded orders for 324 aircraft in July, up ... (full story)
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