US Durable Goods Orders Revised Lower… Again!

Preliminary data for October shows that headline US durable goods orders fell 0.8% MoM (slightly better than the -1.0% MoM expected), leaving orders down 2.9% YoY…

Source: Bloomberg

Core orders (ex-Transportation) rose 0-.4% MoM (-0.1% exp)

Orders placed with US factories for business equipment declined in preliminary October data and the prior month’s gain was revised lower, suggesting firms are more guarded about investment.

Source: Bloomberg

However, for the 6th month in the last seven, durable goods orders were revised lower (August revised from 0.0% MoM to -0.8% MoM!)…

Source: Bloomberg

How is The Fed – or anyone – supposed to make ‘decisions’ when the data is revised so aggressively and consistently?