Durable goods orders fell less than forecast in October, according to a report from the Commerce Department released on Wednesday.
Orders for things built to last such as appliances fell 4.6% (-4.8% forecast.)
Excluding transportation equipment, which clearly can be quite volatile, core durable goods orders rose 0.5% (0.2% expected.)
Capital goods orders for nondefense items excluding aircraft — an important gauge of business spending — increased by 0.9% (0.4% expected.) This is a closely watched metric in the report because it provides clues about corporate America’s spending plans.
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