In other economic news today: US durable goods weak. Industrial Production modestly higher

The recently released US economic data shows that durable goods orders fell short of expectations, with October figures at -2.2% compared to an estimate of -1.5%. Orders excluding transportation rose by only 0.2%, falling below the expected 0.3%. Nondefense capital goods orders, however, exceeded forecasts at 0.5%. In terms of industrial production, there was a modest recovery in November, registering a +0.2% increase against a +0.1% estimate, yet the overall manufacturing sector remains stagnant. The mining sector experienced a significant reversal, surging by +1.7%, while overall manufacturing output remained flat at 0.0%. The underlying data reflects persistent headwinds that could hinder broader recovery, raising concerns about the sustainability of this growth.