After two months of declines, US durable goods orders rose 0.2% MoM (SA) in preliminary October data (significantly less than the expected +0.5%). Interestingly, given the recent stagnation, this blip higher pushed orders up 5.3% YoY (NSA) - the highest since Nov 2023...

On an SA basis, total durable goods orders have basically gone nowhere since March 2023...

Ex-Transportation, orders rose just 0.1% MoM and worse still, non-defense, ex-aircraft orders fell 0.2% MoM (well below the +0.1% MoM expected).

The one very modest silver lining was Capital Goods Shipments Ex Air (a figure that is used to help calculate equipment investment in the government’s GDP report) rose 0.2% MoM (better than expected).

On an SA basis, total durable goods orders have basically gone nowhere since March 2023...
{ai:summary}US durable goods orders increased by 0.2% month-over-month in preliminary October data, falling short of the anticipated 0.5% rise. Year-over-year, orders are up 5.3%, the highest since November 2023, despite stagnation since March.Excluding transportation, orders rose only 0.1%, while non-defense, ex-aircraft orders decreased by 0.2%. A slight positive was seen in Capital Goods Shipments Ex Air, which rose 0.2%. #economy

US Durable Goods Orders Disappoint In October, Stagnant For 19 Months

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