On Wednesday, the U.S. released a series of important economic data. Among them, November durable goods orders continue to rebound from the chain, but the rebound has fallen back from the previous month, the U.S. PCE inflation in November is lower than expected.
The data released by the U.S. Department of Commerce on Wednesday showed that the U.S. November durable goods orders from the preliminary value of 0.9%, exceeding expectations of 0.6%, the previous value of 1.3%, the seventh consecutive month of growth. October data was also revised upward to 1.8%, higher than market expectations of growth of 0.6%. Excluding the volatile transportation sector, U.S. durable goods orders rose 0.4% in November.
Excluding defense capital durable goods orders rose 0.7%; excluding aircraft non-defense capital durable goods orders rose 0.4% from the preliminary quarter, down from a 1.6% increase in October.
U.S. PCE inflation in November was lower than expected
U.S. November PCE price index annual rate actually posted 1.1%, expected 1.2%, the previous value of 1.2%; U.S. November core PCE price index annual rate actually posted 1.4%, expected 1.4%, the previous value of 1.4%.
The Fed has previously stated that it seeks to achieve maximum employment and 2% inflation in the longer term.
As inflation continues to fall below this longer-term target, the Fed will aim to achieve inflation moderately above the 2% target over time so that inflation averages 2% over time and long-term inflation expectations remain at 2%.
The U.S. economy has previously begun a modest recovery from the blow of the new crown pneumonia outbreak. The rising likelihood of a new round of fiscal stimulus in the U.S. Congress and positive progress on the new crown vaccine have become positive news affecting the U.S. economic recovery outlook in the near term.
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