Quantcast

US Durable Goods Orders Unexpectedly Suffer First Back-To-Back Drop Since April 2020

Share on facebook
Share on twitter
Share on linkedin
Share on telegram
Share on email

US Durable Goods Orders Unexpectedly Suffer First Back-To-Back Drop Since April 2020

After disappointingly dropping 0.3% MoM in September, analysts expected Durable Goods Orders to rebound in preliminary October data. They were wrong.

Orders tumbled 0.5% MoM (vs +0.2% MoM expected) in October and September’s 0.3% MoM print was revised down to -0.4% MoM…

Source: Bloomberg

This is the first back-to-back drop in orders since April 2020.

Total durables orders were held down by a 14.5% drop in bookings for commercial aircraft, which were offset by a surge in motor vehicle new orders +4.8% and communication equipment +7.9%

Finally, on the bright side, the value of core capital goods orders, a proxy for business investment in equipment that excludes aircraft and military hardware, rose 0.6% after a upwardly revised 1.3% increase a month earlier.

Core capital goods shipments, a figure that is used to help calculate equipment investment in the government’s gross domestic product report, rose 0.3% after jumping an upwardly 1.3% in the prior month.

Additionally, Defense capital goods new orders -20.1% – the biggest MoM drop since April 2021.

We’re gonna need more war!

Tyler Durden
Wed, 11/24/2021 – 08:47

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Who is the Biggest RINO (Republican in Name Only) in Washington DC

By completing the poll, you agree to receive emails from MAGAPAC.org and that you've read and agree to our privacy policy and legal statement.

0
Would love your thoughts, please comment.x
()
x