Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durables fell 0.7 percent (nonannualized rate) in October after a sharp downward revision to September’s orders—which were revised down from a 0.8 percent decline to a 1.6 percent drop. Despite the near-term softness, the year-over-year growth rate in new orders stands at 7.5 percent. Much of that weakness in the near term has been tied to orders for transportation equipment (largely aircraft orders). Excluding transportation, new durables orders rose 0.7 percent in October, are trending at an annualized growth rate of 4.5 percent over the past three months, and are up 11.7 percent over the past year. An important signal of future equipment and software investment—new orders of nondefense capital goods excluding aircraft—plummeted 1.8 percent in October and was revised down from a 2.4 percent increase to 0.9 percent gain in September. Still, the longer-term (12-month) growth rate in the series improved to 9.2 percent in October. Shipments of durables jumped up 1.3 percent in October, more than reversing a 0.5 percent decrease in September, and are up 9.2 percent over the past year. Durables shipments excluding transportation equipment rose 0.2 percent in October, following up a slight 0.1 percent decrease in September. After a brief pause in September, manufacturers’ resumed stocking inventories of durables, adding 0.5 percent in October. Durables inventories have grown nearly 20 percent since the end of the recession (June 2009).