“Core” Durables Goods Orders Plunge For 10th Consecutive Month As Defense Spending Soars Most In 8 Years
by Tyler Durden
ZeroHedge.com
12/23/2015
If it wasn’t for America’s war machine, the economy would be deep in recession. Defense spending (aircraft and parts) soared 148% in the last 3 months – biggest such rise since 2007 managing to squeeze Durable Goods Orders overall to unchanged in Nov (vs -0.6% exp). That’s the good news. Everywhere else you look bad. Core Capex fell 1.93% YoY – the 10th consecutive YoY drop – something not seen before outside of recession.
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