Durable goods orders rose 1.3% in November. Excluding transportation, durable goods orders fell 0.1%.
The Census Bureau reports New Orders for Manufactured Durable Goods in November increased $3.1 billion or 1.3 percent to $241.4 billion.
New Orders
Durable Goods: +1.3%
Excluding Transportation: -0.1%
Excluding Defense: +1.0%
Transportation: +4.2%
Core Capital Goods: -0.1%
October Revised from -1.2% to -0.4%
Shipments
Durable Goods: +1.0%
Excluding Transportation: +0.2%
Transportation: +2.6%
Core Capital Goods: +0.3%
Durable Goods Highlights
Notes
This was not a bad report but it failed to meet the Econoday expectation of a 2.0% bounce.
Factoring in revisions, the consensus was nearly spot on.
Autos still show a hurricane impact and they are a sizable portion of durable goods.
Aircraft skewed the the report making November look better than it really was and October worse than it really was.
One can make a bullish or bearish case out of this report but once the hurricane impacts on autos and machinery is over, it may be difficult to sustain good numbers.
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