US December factory orders data
- Prior was -0.6%
- Ex transport +-0.6% vs -1.3% prior
Durable goods orders revisions
- Orders 1.2% vs 1.2% initially
- Capital goods orders non-defense ex air -1.0% vs -0.7% initially
- Capital goods shipments non-defense ex air -0.0% vs +0.5% initially
This is another black eye on the investment front. The revision lower to core orders takes what was a poor report and makes it dismal. The fall to flat for shipments is also a negative for Q4 GDP. Look for downward revisions to estimates.
