US goods or­ders prob­a­bly dropped

The Pak Banker - - Front Page -

NEW YORK

De­mand for durable goods prob­a­bly de­creased in Oc­to­ber, held back by slow­downs in US busi­ness in­vest­ment and ex­ports, econ­o­mists said be­fore a report to­day.

The pro­jected 0.7 per­cent drop in book­ings for goods meant to last at least three years fol­lows a 9.8 per­cent in­crease in Septem­ber, ac­cord­ing to the me­dian forecast of 75 econ­o­mists sur­veyed by Bloomberg.

Other data may show prop­erty val­ues are con­tin­u­ing to firm and con­sumers are gain­ing con­fi­dence.

Cater­pil­lar Inc. (CAT) and Deere & Co. are among com­pa­nies that have trimmed sales pro­jec­tions as they pre­pare for the ef­fects of a fis­cal cliff of U.S. tax in­creases and government bud­get cuts set to take ef­fect in Jan­uary.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.