US Durable Goods Fell Again In October With Slumping Aircraft Orders

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)
United States Durable Goods Orders
  • 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