Highlights of the September durable goods orders report:
- Prior was +0.5% (revised to +0.4%)
- Durables ex transportation +0.8% vs +0.4% expected
- Prior ex transportation +0.6% (revised to +1.0%)
- Capital goods orders non-defense ex-air +1.0% vs +0.5% expected
- Prior capital goods orders non-defense ex-air +1.9% (revised to +2.1%)
- Capital goods shipments non-defense ex-air +0.3% vs +0.4% expected
- Prior capital goods shipments non-defense ex-air +1.0%
The headline is strong along with generally positive revisions. What's not to like? Business investment continued in September despite all the uncertainty in the economy and with the virus. There's some impressive resilience in the economy.
