Preliminary durable goods orders data for September
- Prior was +0.1% m/m (revised to +0.3%)
- Durable goods orders nondefense ex-air -1.2% vs -0.1% exp
- Prior durable goods orders nondefense ex-air +0.9% (revised to +1.2%)
- Durable goods orders ex-transportation +0.2% vs +0.2% exp
- Capital goods shipments nondefense ex air +0.3% vs +0.3%
- Prior capital goods shipments nondefense ex air -0.1% (revised to 0.0%)
The durable goods numbers will be revised in the factory orders report in November.
The key line in the report is always nondefense ex-air and it's very weak in this report. The shipments data is important for Q3 GDP but it's close enough to estimates that it won't result in fresh estimates.
As for nondefense ex-air, that raises fresh questions about Q4 and a weak finish to the year.
