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- U.S. durable goods orders unexpectedly rebound in October
U.S. durable goods orders unexpectedly rebound in October
The U.S.
Commerce Department reported on Wednesday that the durable goods orders rose
0.6 percent m-o-m in October, following a revised 1.4 percent m-o-m decline in September
(originally a 1.1 percent m-o-m drop). That was the largest monthly advance
since July.
Economists had
forecast a 0.8 percent m-o-m decrease.
According to
the report, orders for durable goods excluding transportation increased also 0.6
percent m-o-m, following a revised 0.4 percent m-o-m drop in September
(originally a 0.3 percent m-o-m fall) and exceeding market expectations of 0.1
percent m-o-m gain.
Orders for
non-defense capital goods excluding aircraft, a closely watched proxy for
business spending plans, surged1.2 percent m-o-m in October (the biggest gain
since January) after a 0.5 percent decline m-o-m in September (revised from a
previously reported -0.6 percent m-o-m). Economists had called for a 0.3
percent drop in core capital goods orders in October.
Shipments of
these core capital goods increased 0.8 percent m-o-m in October after a 0.8
percent m-o-m decrease in the prior month (revised from a previously reported
-0.7 percent m-o-m).
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