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U.S. Durable Goods Orders Contract in September; Implication

October 25, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Quasar Elizundia, Expert Research Strategist at Pepperstone.

"Durable goods figures in the United States recorded a 0.8% contraction in September, which could sustain concerns about a potential slowdown in production and the country's manufacturing sector. Although the data is relatively better than expected, with the underlying component showing a 0.4% increase, this is the first 'negative' news contrasting with a series of more optimistic figures reported by the U.S. economy in October, including increases in employment, job vacancies, ISM services PMI, and retail sales.

The contraction in durable goods orders continues to pressure the manufacturing sector, which still remains in negative territory despite some improvement compared to the previous month. These challenges emerge amid a strong labor market and expansion in other sectors, highlighting an economy that remains resilient despite certain areas of weakness.

It is worth noting that this contraction in durable goods is unlikely to have a significant impact on the Federal Reserve's potential actions, which have recently recalibrated towards a less aggressive stance on rate cuts-a scenario that is not entirely favorable for Latin American currencies, which have suffered in recent months due to the appreciation of the U.S. dollar and adjustments in Fed policy expectations.

The outlook for durable goods also shows contrasts with previous reports, with August orders adjusted downwards following a substantial 9.8% increase in July, the largest in four years. These movements underscore the inherent volatility in the sector and suggest that the path to manufacturing recovery may be more complex than anticipated.

As the U.S. economy continues to present a mix of strong indicators and challenged sectors, markets will closely watch upcoming data to assess how conditions evolve and how this will affect the monetary policy front.”

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