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Durable goods orders surge

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Durable goods orders surge

3.0% increase in October follows 0.8% decrease in September.

New orders for manufactured durable goods in October increased 3.0%, the U.S. Census Bureau announced today. The increase, which ended two consecutive months of declines, followed a 0.8% September decrease.

Excluding transportation, new orders increased 0.5%. Excluding defense, new orders increased 3.2%. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $6.1 billion or 8.0 percent to $82.1 billion

Non-defense capital goods orders excluding aircraft - so-call “core capital goods orders” - increased 1.3% during the month, following a revised 0.4% increase in September.

Analysts had estimated an increase in core capital goods orders of 0.4%. 

The increase in core capital goods orders is a welcome sign, as it is generally considered a solid gauge of business spending. Its rise provides optimism for a rebound in manufacturing in the fourth quarter.

 

 

 

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