Factory orders continued their solid advance in December, up another 1.0% on top of their 1.0 percent gain in November and 0.8% percent gain in October. The advance is strong in durable goods and non-durable goods, both up 1.0%. Perhaps most encouraging is a capital goods reading that also shows strength in the month. Thursday's report underscores strong momentum for the manufacturing sector going into the New Year. Additionally, on Monday accelerating momentum was observed in the ISM manufacturing report on business for January.
Shipments also continue to rise -- jumping 1.9%, which adds to a 1.6% rise in November and October's 0.9% gain.
Posts
GNE,
ReplyDeleteWhat's your take on the concern about Euro debt and the possibility it will cause another financial panic?
Bill,
ReplyDeleteIt is highly unlikely. Now that the crisis has largely passed, the bears will continue to try to find something else to feast upon. It is more likely that we have seen last year one of the biggest downturns of a generation. We will likely need to wait another generation for anything approaching its magnitude.
Look for 2010 to be a year of solid economic growth with very robust net job additions by year end.
Do you think we'll have a bear market in 2010 or a continuation of the bull market?
ReplyDeleteBill,
ReplyDeleteI have found Warren Buffet's moves to be a good indicator of when the market will generally change directions. “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
I'll let you be the judge. For the most part are investors greedy right now? Or fearful? Take action in the opposite direction.