Durable Goods Oders Tumbled In November, But…

It was the best of times, it was the worst of times…

The preliminary headline US durable goods order data for November shows a much worse than expected 1.1% MoM decline (-0.3% exp) which dragged orders down 6.3% YoY on fewer orders for commercial aircraft.

Source: Bloomberg

But, orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.

The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, increased 0.7% last month after a revised 0.1% decline in October.

Source: Bloomberg

So take your pick…

Source: Bloomberg

As always baffle ’em with bullshit on these noisy datsets.