Highlights of the factory orders report including revisions to durable goods orders:
- Prior was +10.5%
- Overall durable goods orders -18.4% from -18.2% initially reported
- Capital goods orders non-defense ex-air +0.4% vs +0.6% initially reported
- Manufacturing inventories +0.1% vs July
The large drop was no surprise as it came on a huge swing in Boeing orders in July/Aug. The downward revision to core orders is a slightly negative sign for the US economy.
The US Factory Orders reverse the aircraft influenced gains from last month.
