{LONGTERMINVESTORS} MACRO UPDATE U.S. · Demand for Durable goods slipped slightly in September, a sign the U.S. factory sector is still on shaky ground. Orders for durable goods (products designed to last longer than three years, such as trucks, computers and planes) fell 0.1% to $227.3 billion from a month earlier. · Orders for capital goods excluding aircraft and defense-a rough proxy for business investment-fell 1.2% in September from a month earlier, after posting three straight months of gains. That was the steepest drop since February. UK · The UK economy grew 0.5 per cent QoQ in the third quarter of 2016, exceeding forecasts and defying Treasury warnings that a vote to leave the EU would spark an immediate recession. · Although growth in the three months from July to September was slower than the 0.7 per cent in the second quarter, it was much stronger than many economists had expected. The most recent average forecast was 0.3 per cent. Source: WSJ, Financial Times, Phillip Securities Researc

MACRO UPDATE

U.S.

·         Demand for Durable goods slipped slightly in September, a sign the U.S. factory sector is still on shaky ground. Orders for durable goods (products designed to last longer than three years, such as trucks, computers and planes) fell 0.1% to $227.3 billion from a month earlier.

·         Orders for capital goods excluding aircraft and defense-a rough proxy for business investment-fell 1.2% in September from a month earlier, after posting three straight months of gains. That was the steepest drop since February. 

 

UK

·         The UK economy grew 0.5 per cent QoQ in the third quarter of 2016, exceeding forecasts and defying Treasury warnings that a vote to leave the EU would spark an immediate recession.

·         Although growth in the three months from July to September was slower than the 0.7 per cent in the second quarter, it was much stronger than many economists had expected. The most recent average forecast was 0.3 per cent.

 

Source: WSJ, Financial Times, Phillip Securities Research (Singapore)

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CA Mihir Desai

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