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Notes to myself, possibly of interest to others.
-- Bill Northlich

Friday, February 5, 2010

Not everything is bearish

... the outlook for business spending has improved. No disputing that one and in fact, we saw U.S. factory orders come in at +1.0% MoM in December, which was double the consensus estimates. There is more to the manufacturing data than just the orders and inventories — we also get shipments, which is real demand (orders can always be cancelled although they can be a good leading indicator for future production)...Below is a list of the sectors that screened the best and the worst:

-Primary metals
-Turbines/engines/power transmission
-Computers/electronic products
-Paper products
-Basic chemicals
-Commercial aircraft
-Farm machinery
-Construction machinery
-Industrial machinery

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