It was the best of times, it was the worst of times...

The preliminary headline US durable goods order data for November shows a much worse than expected 1.1% MoM decline (-0.3% exp) which dragged orders down 6.3% YoY on fewer orders for commercial aircraft.

But, orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.

The value of&nbsp;core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, increased 0.7% last month after a revised 0.1% decline in October.

As always baffle 'em with bullshit on these noisy datsets.

...core capex surged.
{ai:summary}November's US durable goods orders fell by 1.1% month-over-month, worse than the expected decline of 0.3%, leading to a 6.3% year-over-year drop, largely due to fewer commercial aircraft orders. However, core capital goods orders, excluding aircraft and military items, rose by 0.7%, marking the strongest monthly growth in over a year. #economy

Durable Goods Oders Tumbled In November, But...

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