December US durable goods orders -5.1% vs -0.6% exp m/m

Details of the December 2015 US durable goods orders reports:

• Prior 0.0% (revised to -0.5%)
• Ex-transport -1.2% vs -0.1% exp
• Prior ex-transport 0.0% (revised to -0.5%)
• Cap goods orders non-def ex-air -4.3% vs -0.3% exp m/m.
• Prior cap goods orders non-def ex-air -0.3% (revised to -1.1%)
• Cap goods shipments non-def ex-air -0.2% vs +0.8% exp m/m.
• Prior cap goods shipments non-def ex-air -0.6% (revised to -1.1%)

Awful data. This is one of the worst durable goods orders reports I've ever seen. Terrible numbers, negative revisions and the shipments reading means Q4 will barely show any growth in tomorrow's GDP report.

It's the biggest durable goods orders miss relative to expectations since December 2013, according to Bespoke Investments. And that's just the headline. The internals are all weak. It shows the US dollar or oil or China or something else is crushing the goods-producing sector.