Better Business Investment

Chart of the Week for August 30-September 5, 2002

July’s 8.7% increase in durable goods orders far exceeded expectations and signaled the recovery is still on track despite periodic sluggishness. Orders for durable goods provide an indication of business investment, which has been lagging and is key to recovery. This report should not be overemphasized, but if subsequent reports confirm business spending is indeed growing, talk of recovery could give way to talk of expansion.

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