U.S. Capital Goods Orders Increase for a Seventh Straight Month
“Orders placed with U.S. factories for business equipment rose in September for a seventh straight month, pointing to ongoing strength in capital investment. The value of core capital goods orders, a proxy of business investment in equipment that excludes aircraft and military hardware, rose 0.8% after a revised 0.5% increase a month earlier, Commerce Department figures showed Wednesday.”
Euro Area’s Last GDP Hurrah Will Morph Into Supply Slowdown
“The euro area’s final spurt of growth before logistics logjams and surging gas prices stunt its momentum will be on display in data this week. Although Friday’s gross domestic product report is likely to show robust performance in the third quarter, a double whammy of supply and demand shocks means the economy will now take longer to recover its pre-pandemic level of output. Inflation data released concurrently will also reveal the squeeze hitting the region’s consumers.”
China’s Industrial Profit Growth Picked Up in September
“Profit growth at China’s industrial firms picked up in September, partly as profitability of companies that mine and manufacture raw materials rose significantly on spiking energy prices. Industrial profit growth accelerated to 16.3% in September from a year earlier, the National Bureau of Statistics said Wednesday, compared with a 10.1% increase in the previous month. For the first nine months of the year, profits climbed 44.7% from a year earlier.”
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