In our September 27th post we discussed the importance of capex (investing on the part of companies in business-expanding capital); an essential ingredient in a healthy, growing economy. The post serves as a nice, and very short, primer on capex.
We were seeing strong hints at the time that business were on the verge of taking meaningful productivity-enhancing measures. Well, today's durable goods orders says those hints were right on the money.
Courtesy of Bespoke Investment Group: click to enlarge...
This is welcome news!