Highlights of the October US durable goods orders report:

  • Prior capital goods orders -1.7% (revised to -1.3%)
  • Overall durable goods orders +0.4% vs -0.6% exp
  • Prior durable goods orders -1.3% (revised to -0.9%)
  • Ex-transportation -0.9% vs +0.5% exp
  • Prior ex-transportation -0.2% (revised to +0.2%)
  • Capital goods shipments non-defense ex-air -0.4% vs +0.5% exp
  • Prior capital goods shipments non-defense ex-air -0.2% (revised to +0.4%)

There isn’t much to be happy about in this report. The only thing that kept overall orders higher was an 11.2% rise in defense orders.

Since March, capital goods orders have been essentially flat; that’s not the kind of thing you would see in an accelerating recovery.

capital goods orders nondefense ex-air

Capital goods orders nondefense ex-air