US November durable goods orders highlights:
- Prior was +1.3% (revised to +1.8%)
- Durables ex transportation +0.4% vs +0.5% expected
- Prior ex transportation +1.3% (revised to +1.9%)
- Capital goods orders non-defense ex-air +0.4% vs +0.6% expected
- Prior capital goods orders non-defense ex-air +0.8% (revised to +1.6%)
- Capital goods shipments non-defense ex-air +0.4% vs +0.7% expected
- Prior capital goods shipments non-defense ex-air +2.4% (revised to +2.6%)
This is a much stronger report than it first appears. There are sizeable upward revisions to the October numbers and that bodes well for the economy in early 2021.
