Decline in durable goods orders in the United States
In September, orders for durable goods in the United States declined by 0.8%, according to the preliminary reading. This figure is particularly significant when compared with the Bloomberg consensus expectations, which predicted a decrease of 1%. The decline in durable goods orders is an important indicator of economic health, as it reflects demand for goods that have an extended useful life, such as machinery and equipment. A decline in this sector may suggest a decrease in business and consumer confidence, negatively affecting economic growth
.
Improving the economic outlook in Germany
Contrary to the US situation, Germany’s economic outlook showed signs of improvement in October, as evidenced by the Ifo Institute’s index of business expectations. This index registered an increase, suggesting that German companies are more optimistic about the future. However, it is important to note that both the consumer confidence index and the composite business confidence indicator are decreasing. This may indicate some caution among consumers, despite positive long-term prospects.
Impact on European and Italian markets
In Europe, the start of the market was slow, with Piazza Affari showing a moderate reaction to economic data. However, some companies have recorded positive performances. For example, Eni saw an increase after the release of the third quarter results, while Saipem showed signs of stability. On the other hand, Mercedes-Benz announced a 64% drop in earnings in its core automotive division in the third quarter, a worrying sign for the European automotive sector. This complex scenario requires careful analysis by investors and economic analysts, as fluctuations in markets can have significant repercussions
on the global economy.