Durables orders rebounded 0.4 percent in October after September's decline of 0.9 percent. Market expectations were for a 0.5 percent decline.
The core fell 0.9 percent in October after a rise 0.2 percent the month before. Analysts projected a 0.5 percent gain for October. Transportation increased a monthly 3.4 percent after falling a monthly 3.3 percent in September.
Within transportation, defense aircraft jumped 45.3 percent after a 3.2 percent dip in September. Nondefense aircraft orders slipped 0.1 percent after falling 5.1 percent the month before. Motor vehicle orders rebounded 0.3 percent after declining 0.3 percent in September.
Outside of transportation, weakness was broad based. The only major industries seeing a gain in the latest month was computers & electronics. Declines were seen in primary metals, fabricated metals, and electrical equipment. The "other" category was flat.
The outlook for equipment investment continued to soften. Nondefense capital goods orders excluding aircraft declined 1.3 percent in both October and September. Shipments of this series decreased 0.4 percent in October after rising 0.4 percent in September.
The latest durables report indicates softness in the manufacturing sector. The next notable national numbers will be ISM and Markit surveys and then production worker hours in the employment report.
Recent History Of This Indicator:
Durable goods orders notably disappointed in September after August's decline that followed a July surge. The core was soft in September but volatile (as usual) in recent months. New factory orders for durables decreased 1.1 percent in September after dropping 18.3 percent in August and spiking 22.5 percent in July. Transportation dipped 3.5 percent after falling a monthly 42.4 percent in August. Excluding transportation, durables orders slipped 0.2 percent, following a rebound of 0.7 percent in August. Expectations were for a 0.5 percent gain.
Numbers reflect revisions from the more recent total factory orders report.
Durable goods orders notably disappointed in September after August's decline that followed a July surge. The core was soft in September but volatile (as usual) in recent months. New factory orders for durables decreased 1.1 percent in September after dropping 18.3 percent in August and spiking 22.5 percent in July. Transportation dipped 3.5 percent after falling a monthly 42.4 percent in August. Excluding transportation, durables orders slipped 0.2 percent, following a rebound of 0.7 percent in August. Expectations were for a 0.5 percent gain.
Numbers reflect revisions from the more recent total factory orders report.
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