Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

U.S. durable goods orders likely to have dropped in October

U.S. durable goods orders data for the month of October is set to be released tomorrow. According to a Wells Fargo research report, durable goods orders are likely to have fallen 2.1 percent in October, after having grown 0.7 percent in the prior month.

The 0.7 percent growth in September was driven by defence aircraft orders, which more than doubled, rising 118.7 percent. This, along with a modest 0.5 percent bump in motor vehicle orders more than countered falls in commercial aircraft orders.

However, aside from the defence aircraft, orders were wide modest in September. Nondefense excluding aircraft, orders and shipments, both dropped 0.1 percent in the month.

However, last week’s indicators showed that business equipment production rose 0.8 percent, after a sharp rise of 9.3 percent in the third quarter. While spending was below expectations in the third quarter, a rebound is likely in the fourth quarter, stated Wells Fargo.

At 14:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 20.859. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.