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Friday, December 22, 2006

US ECON: Durable Goods Orders +1.9% but Ex-Trans Weak Again

* Durable goods orders recover 1.9% of 8.2% loss in prior month
* Ex-trans orders off 2.7% in last two months

Total durable goods orders rose by more than expected in November but net of transportation equipment, orders suffered a second straight large decline. November's ex-trans drop (1.1%) followed a 1.6% sag in October (revised higher from -1.7%). It appears the malaise in manufacturing has spread beyond autos.

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