Another Nice Surprise for the U.S. Economy

Trend Macrolytics responds to the news in a note to clients that emphasizes the value of businesses investing in capital expenditures, known as capex:

New orders for non-defense capital goods (ex-aircraft) makes a new all-time high. Orders are the precursor of capex. Capex is the precursor of growth. We’re in a new productivity supercycle. It’s official.