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- U.S. durable goods orders fall more than forecast in September
U.S. durable goods orders fall more than forecast in September
The U.S.
Commerce Department reported on Thursday that the durable goods orders fell 1.1
percent m-o-m in September, following a revised 0.3 percent m-o-m advance in August
(originally a 0.2 percent m-o-m gain). That was the largest monthly drop since
May.
Economists had
forecast a 0.8 percent m-o-m decrease.
According to
the report, orders for durable goods excluding transportation decreased 0.3
percent m-o-m, following a revised 0.3 percent m-o-m growth in August
(originally a 0.5 percent m-o-m climb) and exceeding market expectations of 0.2
percent m-o-m drop.
Orders for
non-defense capital goods excluding aircraft, a closely watched proxy for
business spending plans, fell 0.5 percent m-o-m in August, after a 0.6 percent
decline m-o-m in August (revised from a previously reported -0.4 percent
m-o-m). Economists had called for a 0.2 percent drop in core capital goods
orders in September.
Shipments of
these core capital goods decreased 0.7 percent m-o-m in September after a flat
m-o-m performance in the prior month (revised from a previously reported +0.3 percent
m-o-m).
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