24 Sep 2004 Not Full Speed, But Clearer Sailing Ahead
Posted at 15:58h in The Friday BriefThis week’s batch of economic news continued mixed as it has been for the last few weeks. A clearly good signal came today though, in the government’s report of Durable Goods Orders. It showed that the nation’s manufacturing economy is gaining strength. With the volatile transportation segment removed, durable goods increased a whopping 2.3%, almost tripling economists’ estimates for the month. Manufacturing accounts for a third of the U.S. economy and remains the “engine of the global economy,” according to Bloomberg News. Our manufacturing segment alone exceeds the individual gross domestic product of all but four nations: the U.K., Germany, Japan, and the U.S. American factories shipped more than half of the world’s global exports in 2003.