US September factory orders

  • Prior was +2.3%
  • Factory orders ex transport +0.4% vs +0.1% prior (prior revised to +0.4%)

Durable goods orders revisions:

  • September durable goods orders +0.7% vs +0.8% prelim
  • Ex transportation 0.0% vs +0.1% prelim
  • Capital goods orders non-defense ex-air -0.1% vs -0.1% prelim
  • Capital goods orders non-defense ex-air initial consensus was +0.5%, prior was -0.2%
  • Capital goods shipments non-defense ex-air -0.1% vs 0.0% prelim
  • Prior capital goods shipments non-defense ex-air -0.2%

The headline is a bit stronger but there were some miniscule revisions lower in core durable goods. Overall, this is close to the mark.

Factory orders, year-over-year non-defense, ex-air capital goods orders are up 2.0%, which isn't exactly what you'd hope for after a gigantic tax cut that was supposed to spur investment.