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Welcome to ITA news and our weekly market event update.
The big market event this week will be the US Core Durable Goods Orders.
Durable goods are goods that do not wear out quickly or have a lifespan of more than three
years, and include a wide range of items including computer equipment, industrial machinery,
trains, planes and automobiles.
New orders for U.S. core durable goods, are the total durable goods orders excluding transportation
equipment. The new orders numbers are closely followed by market participants as they provide
indications on current economic conditions as well as future production commitments in
the manufacturing sector.
The new orders data is arranged by the U.S. Census Bureau in its monthly manufacturers'
shipments, inventories and orders survey, which cover manufacturing establishments with
500 million dollars or more in annual shipments.
Notice that transportation equipment is specifically excluded from core durable goods orders because
of the high value of aircraft and other transportation equipment. Large amounts of orders in one
month can misrepresent the monthly numbers and make it difficult to unsure the underlying
trend.
In January US durable goods orders dropped by 1%. They were expected to drop 0.7% after
plunging 4.2% in December.
Thanks for joining us for the market event of the week, check out our term of the day,
every day here on our channel and stay tuned for our special market event updates weekly.