Is the US pulling back on investment?

Nervousness about the US recovery following a slump in durable goods orders must be tempered by context. Not only are the data volatile, but for many big ticket items optimism about the future is emerging.

Durable goods orders in the US fell sharply in December, missing expectations and sparking fresh nervousness over the US recovery. On face value the data does looks pretty grim, and a dismal way for American business to end 2013.

Orders fell by 4.3 per cent in the month. Excluding the volatile transportation component (primarily airplanes), durable goods orders fell by 1.6 per cent.

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