Durable goods ticked up .8% for September which surprised economists who thought there would be a decline for the month. The goods were buoyed by an increase in transportation orders. (See the details below.)
This rise sends mixed signals, it could represent a further deterioration of manufacturing or it could optimistically prove that some of the scariest forecasts are wrong.
Marketwatch: Transportation goods orders rose 6.3% after a 9.3% drop in August. Orders for civilian aircraft rose 29.7% after a 37.7% drop. Orders for vehicles rose 3% after an 8.8% decline. Orders for defence aircraft rose 10.1% after an 11.7% drop. Shipments of transportation goods rose 2%.
Orders for machinery rose 0.5% after a 6.4% decline. Shipments of machinery jumped 4.3%.
Orders for electronics, excluding semiconductors, fell 1.4% after a 2% gain. Orders for computers fell 2.8%. Orders for communication equipment fell 14.6%. Shipments of electronics, including semiconductors, dropped 2.1%.
Orders for electrical goods increased 1.5% after a 3.5% decline. Shipments of electrical goods fell 0.2%.
Orders for primary metals fell 4.5%, while shipments dropped 3.2%. Orders for fabricated metals fell 0.9% while shipments fell 0.2%.
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