Durable goods orders in the US are hinting at an economic recovery.
The demand for long lasting manufactured goods rose 1% in September. It’s the second increase in three months. Durable goods orders are a leading indicator in manufacturing, providing a good measure of overall business health. Shipments rose 0.8% in September, while inventories have fallen, for the ninth month in a row, by 1%. Continued paring of inventories could hold back economic growth. The US Commerce Department will publish third quarter GDP results on Thursday.