Highlights of the October US durable goods report:
- Prior was +1.9% (revised to +2.1%)
- Durables ex transportation +1.3% vs +0.5% expected
- Prior ex transportation +0.9%
- Capital goods orders non-defense ex-air +0.7% vs +0.5% expected
- Prior capital goods orders non-defense ex-air +1.0% (revised to +1.9%)
- Capital goods shipments non-defense ex-air +2.3% vs +0.4% expected
- Prior capital goods shipments non-defense ex-air +0.5% (revised to +0.7%)
This is a very strong report and will lead to some upgrades to Q4 GDP. The shipments number is particularly strong and that feeds directly through. There have been some softer indications for November though so we'll see.
