Core Durable Goods Orders Rise For 7th Straight Month

Core Durable Goods Orders Rise For 7th Straight Month While admittedly extremely lagging, the preliminary OCTOBER durable goods orders print was a big disappointment after a rebound in the summer with the headline falling 2.2% MoM (far worse than the 1.5% MoM decline expected). However, while this disappointment dragged down the YoY growth to 4.7%, it was still well above inflation... Source: Bloomberg Core Orders (ex Transports) rose 0.2% MoM (notably slower than the 0.7% MoM in September and below the +0.3% MoM expected)... Source: Bloomberg That was the 7th straight monthly gain and lifted core durable goods orders up 3.57% YoY, near the highest since Nov 2022. Finally, core capex remains solid with new orders ex-air up 0.5% (4th straight monthly gain) and shipments continue to significantly stronger than expected.

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