giovedì 26 luglio 2012

Very volatile data today in the USA

Economic data released today were very volatile: 1) Initial jobless claims fell from 388k to 353k vs market consensus. The data was very volatile in the last weeks due to plant shutdown and difficulties in seasonal adusting the data. However, the data is a positive indication for the labour market in July. Jobs creation in July may slightly below 100k. 2) durable goods orders rose by 1.6% m/m vs expectations at 0.3% m/m. The ex-transportation data fell by 1% m/m. The data is in line with the contination of a moderate of growth for the manufacturing sector in Q3.

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