Sept US factory orders 1.4% vs +1.2% expected

Factory orders and revisions to durable goods orders

  • Prior was +1.2%
  • Ex transport +0.7% vs +0.4% prior
  • Durable goods orders 2.0% vs +2.2% initially reported
  • Durable goods non-defense capital goods orders ex-air 1.7% vs +1.3% initially
  • Capital goods shipments nondef ex air +0.9% vs +0.7% initially

Another great set of numbers, that core capital goods orders reading is the best since July 2016 and (importantly) it’s not because of a bounce-back due to a poor month. The five-month moving average on core orders is the best since 2014.

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