How strong is the American economy right now? Some light will be shed on Tuesday, when the Census Bureau releases April’s reading on durable goods orders.
“The durable goods report will be the first tangible indication if hopes for more robust economic growth in the second quarter are realistic,” said Scott Nations, CIO of NationsShares. “Any month-over-month decline will be disappointing.”
Because the durable goods report measures new orders for expensive manufactured products, it provides insight into how busy factories may become, thus making it a leading indicator for the economy. Excluding the noisier defense and aircraft orders, economists polled by Reuters are looking for a gain of 0.3 percent, well short of March’s expectation-beating 2.2 percent gain.
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