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US durable goods revised slightly lower than expectedđź“ŠUS factory orders slightly weaker

4:09 PM 2 August 2024

US Factory orders dropped -3.3% MoM in July vs -3.2% exp. and -0.5% previously

  • US Durable Goods came in -6.7% MoM vs -6.6% exp. and -6.6% previously
  • Also, US Core Durable Goods were revised lower to 0.4% MoM vs 0.5% exp. and 0.5% in June

Citi forecasts 125 bps in Fed cuts this year after jobs data, 50 bps each in September & December. Goldman Sachs analysts added a third quarter-point Fed cut to their 2024 forecast.

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