Durable goods orders fall less than expected

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.

NOW WATCH: Watch Yellen explain why the Federal Reserve decides to raise rates

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.