Market news
27.11.2019, 13:58

U.S. durable goods orders unexpectedly rebound in October

The U.S. Commerce Department reported on Wednesday that the durable goods orders rose 0.6 percent m-o-m in October, following a revised 1.4 percent m-o-m decline in September (originally a 1.1 percent m-o-m drop). That was the largest monthly advance since July.

Economists had forecast a 0.8 percent m-o-m decrease.

According to the report, orders for durable goods excluding transportation increased also 0.6 percent m-o-m, following a revised 0.4 percent m-o-m drop in September (originally a 0.3 percent m-o-m fall) and exceeding market expectations of 0.1 percent m-o-m gain.

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, surged1.2 percent m-o-m in October (the biggest gain since January) after a 0.5 percent decline m-o-m in September (revised from a previously reported -0.6 percent m-o-m). Economists had called for a 0.3 percent drop in core capital goods orders in October.

Shipments of these core capital goods increased 0.8 percent m-o-m in October after a 0.8 percent m-o-m decrease in the prior month (revised from a previously reported -0.7 percent m-o-m).

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