US Durable Goods Orders Solid In September

While ‘soft’ survey data has been a shitshow, ‘hard’ data has been stable (what little we actually had during the shutdown)…

Source: Bloomberg

Today we get more ‘catch-up’ data with Factory Orders and Durable Goods data for September.

US Factory Orders disappointed, rising just 0.2% MoM (+0.3% exp) and slowing notably from the +1.3% MoM jump in August (and up 3.6% YoY)…

Source: Bloomberg

Core Factory Orders (ex-Transports) also rose 0.2% MoM, up notably from the downwardly revised 0.1% MoM decline in August (but remains up over 1% YoY)…

Source: Bloomberg

The final print for Durable Goods Orders were all in line with the flash prints, with the headline rising 0.5% MoMm which helped push Orders up a solid 9.6% YoY…

Source: Bloomberg

Core Durable Goods orders rose for the 6th straight month and are up over 3% YoY…

Source: Bloomberg

Of course, this data is extremely stale now, but still it’s positive overall (despite job losses in the goods-producing sector).