Highlights of the October 2015 US durable goods data report 25 November 2015

  • September -1.2%. Unchanged in factory orders revision
  • Ex-transport 0.5% vs 0.3% epx m/m. Prior -0.3%. Revised to -0.1%
  • Ex-defence +3.2% vs -1.9% prior. Revised to -+1.6%
  • Cap goods orders non-def ex-air 1.3% vs 0.4% exp m/m. Prior -0.1%. Revised to +0.4%
  • Cap goods shipments non-def ex-air -0.4% vs -0.3% ecp. Prior +0.5%

Very good numbers on the first look but some of that positivity will be lessened by the drop unchanged core PCE number (sorry, read the wrong column in the data). Strong readings in the investment indicator of cap goods orders

Notable gains for transport equip (8.0% vs -2.2% prior) and particularly non-def aircraft parts which rose 81% vs a 32% drop in Sep

US durable goods details

Some not so good news as total shipments fell 1.0% from +0.2% in Sep. Inventories were also down again, -0.2% vs -0.6% prior

The dollar is trying to rally on the data and has broken to a new high for the day at 122.84, but yet again, we're seeing a mild response to good data. Durable's can be volatile at the best of times so take it for what it is today but be wary come the revisions

US durable goods m/m