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23 Dec 2015
US durable goods preview - Nomura
FXStreet (Guatemala) - Analysts at Nomura noted the forthcoming key US data releases and offered a preview for the durable goods data.
Key Quotes:
"Durable goods orders: With the industrial sector fighting through various headwinds, durable goods orders excluding transportation declined on a year-over-year basis for the ninth consecutive month in October.
In November, the ISM manufacturing new orders subindex entered contraction territory for the first time since August 2012 and industrial production of durable goods excluding transportation posted a slight gain, suggesting that the tepid pace of manufacturing activity carried through to November.
Taking these variables into consideration, we forecast that durable goods orders excluding transportation rose slightly, by 0.2% (Consensus: 0.0%). A decline in orders for nondefense aircrafts (on a seasonally adjusted basis) could weigh on overall transportation orders. As a result, we forecast that total durable orders were down by 1.7% in November (Consensus: -0.6%)."
Key Quotes:
"Durable goods orders: With the industrial sector fighting through various headwinds, durable goods orders excluding transportation declined on a year-over-year basis for the ninth consecutive month in October.
In November, the ISM manufacturing new orders subindex entered contraction territory for the first time since August 2012 and industrial production of durable goods excluding transportation posted a slight gain, suggesting that the tepid pace of manufacturing activity carried through to November.
Taking these variables into consideration, we forecast that durable goods orders excluding transportation rose slightly, by 0.2% (Consensus: 0.0%). A decline in orders for nondefense aircrafts (on a seasonally adjusted basis) could weigh on overall transportation orders. As a result, we forecast that total durable orders were down by 1.7% in November (Consensus: -0.6%)."