US durable goods orders fell 0.5 percent in October, following after a 0.4 percent decrease in September. Transportation equipment (-2.6 percent), specifically nondefense aircraft and parts (-14.5 percent) and defense aircraft and parts (-21.8 percent).
Total durable goods orders rose 1.8% month-over-month in August (consensus +0.6%).
October Durable Goods Orders Highlights
- US Durable Goods Orders Oct P: -0.5% (est 0.2%; prev -0.3%; prevR -0.4%)
- US Durables Ex-Transportation Oct P: 0.5% (est 0.5%; prev 0.5%; prevR 0.7)
- Orders declined for transportation equipment (-2.6 percent), specifically nondefense aircraft and parts (-14.5 percent) and defense aircraft and parts (-21.8 percent).
- Other declines were also seen in orders for computers and related products (-2.2 percent), nondefense capital goods (-1.2 percent) and machinery (-0.9 percent).
- Excluding defense, new orders climbed 0.8 percent and excluding transportation went up 0.5 percent, in line with forecasts.
- Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.6 percent, above forecasts of 0.5 percent.
Source: US Census Bureau
From The TradersCommunity NewsDesk