Signs of Stability
Ifo economist Klaus Abberger said the survey showed Germany’s economic rebound was entering a new phase and losing some pace, with exporters somewhat skeptical over developments in the United States and China.
Another Ifo economist Gernot Nerb said the economic climate was very robust and improvements in the construction and retail sectors should help cushion the blow from slowing exports.
…orders rose 2 percent after the volatile transportation component was excluded, which was twice the amount expected by economists polled by Thomson Reuters. Orders for July also were revised upward. Signs…
“The durable goods orders are consistent with the recent string of economic data suggesting that the U.S. economy might be stabilizing,” Marc Chandler, the global head of currency strategy for Brown Brothers Harriman, wrote in a research note.
Dan Greenhaus, the chief economic strategist with Miller, Tabak & Company, said the number “bodes well” for the gross domestic product reading for the third quarter.