DURABLE GOODS ORDERS TUMBLE

Durable goods orders unexpectedly fell in September.

Durable goods orders fell 1.3%, missing expectations.

Expectations were for orders to rise 0.5% month-over-month, a moderation from the wild swings seen in August and July.

Excluding transportation orders, durable goods orders fell 0.2% in September, while orders fell 1.5% excluding defence orders.

Durable goods orders excluding transportation were also expected to rise 0.5%.

September’s report showed that nondefense new orders for capital goods in September fell 5.4%, while defence new orders for capital goods rose 7.4%.

In July, durable goods orders rose a record 22% on large aircraft orders, but this was followed by a huge 18% drop in August.

More to come …

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