Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods fell 0.4 percent (nonannualized) in October after posting a 0.1 percent revised decline in September (which had marked a 0.3 percent increase before revisions). On a year-over-year basis, new orders continued to post double-digit gains of 10.8 percent in October, up slightly from September’s 10.1 percent yearly gain, but down from the 12.7 percent average yearly growth seen through August. Although factory orders marked a headline decrease, several categories showed strength including shipments (up 0.6 percent) and inventories (up 0.9 percent) with the nondurable inventory sub-category climbing 1.7 percent. Offsetting the increases were weakness in the categories of transportation goods (down 5.1 percent), durable goods (down 0.5 percent), nondurables (down 0.3 percent), and non-defense capital goods excluding aircraft (down 0.8 percent). Looking at the 3-month annualized growth rate, capital goods orders are up 6.1 percent and core capital goods rose at a 10.4 percent pace.