US durable goods orders data
- First decline after four months of gains
- Prior was +1.8% (revised to +1.3%)
- Durables ex transportation +0.4% vs +0.4% expected
- Prior ex transportation +0.3%
- Capital goods orders non-defense ex-air +0.8% vs +0.5% expected
- Prior capital goods orders non-defense ex-air +0.6% (revised to +0.5%)
- Capital goods shipments non-defense ex-air +1.4% vs +0.7% prior
Core orders are solid and the strong shipments numbers in September will lead to some last minute upward adjustments ahead of tomorrow's advance Q3 GDP report.
In terms of the overall headline, downward revisions to August data eliminate most of the beat. Deeper in the report, unfilled orders rose 0.7% and have risen in eight consecutive months.
