Sample Issue Index
NIKKO MARKET COMMENTS
Prepared by
The Nikko Securities Co. International, Inc.
February Durable Goods Orders Rise By 1.5%;
January Gain Revised Up To 4.1%
Propelled by another strong rise in orders for electronic and electrical equipment, durable goods orders recorded another robust gain in February. Longer-term trends show durable goods manufacturers recovering from a hiccup in December and November. In the most recent months, equipment producers (electrical as well as non-electrical) and primary metals producers are enjoying solid growth. The transportations sector suffered from a drop in aircraft orders. Quarterly calculations show a sharp acceleration in orders and shipments of durable goods. The business investment sector should realize a strong increase in 1997Q1. We expect real equipment investment to rise at a 12.8% in the quarter. The Durable Goods report suggests that the economy is on that path.
Robert A. Brusca, Chief Economist
The Nikko Securities Co. International, Inc.
One World Financial Center, Tower A
200 Liberty Street, New York, New York
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