Durables Goods Orders Jump In October, Remain Down Year-Over-Year

US durable goods orders were expected to slow their growth in preliminary October data, but instead rose more than expected, up 1.3% MoM (vs +0.8% exp). However, despite the beat, durable goods orders remain down 1.1% YoY…

Source: Bloomberg

After March and April’s collapse, durable goods orders have risen for 6 straight months.

Shipments of core capital goods, used to form estimates of business equipment investment within the government’s gross domestic product report, surged 2.3% MoM (well above the +0.4% MoM expected).