Highlights of the October US durable goods orders report:
- Prior capital goods orders -1.7% (revised to -1.3%)
- Overall durable goods orders +0.4% vs -0.6% exp
- Prior durable goods orders -1.3% (revised to -0.9%)
- Ex-transportation -0.9% vs +0.5% exp
- Prior ex-transportation -0.2% (revised to +0.2%)
- Capital goods shipments non-defense ex-air -0.4% vs +0.5% exp
- Prior capital goods shipments non-defense ex-air -0.2% (revised to +0.4%)
There isn’t much to be happy about in this report. The only thing that kept overall orders higher was an 11.2% rise in defense orders.
Since March, capital goods orders have been essentially flat; that’s not the kind of thing you would see in an accelerating recovery.
Capital goods orders nondefense ex-air
