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U.S. core durable goods orders rise more-than-expected

Published 11/23/2011, 08:51 AM
EUR/USD
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Investing.com – U.S. core durable goods orders rose more-than-expected in October, official data showed on Wednesday.

In a report, the U.S. Census Bureau said core durable goods orders, excluding transportation items, rose by a seasonally adjusted 0.7% in October, beating expectations for a modest 0.1% increase.

The previous month’s figure was revised down to a 0.6% gain from a 1.7% increase.

The report showed that durable goods orders, which include transportation items, fell for the third consecutive month in October, declining by a seasonally adjusted 0.7%, after falling by 1.5% in September, whose figure was revised from a 0.8% decline.

Analysts had expected durable goods orders to fall by 1.2%.

Shipments of core capital goods declined by 1.1% in October, after falling by 1.0% in September. The U.S. government uses the shipments data to help calculate gross domestic product.  

Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD dropping 0.78% to trade at 1.3399.

Meanwhile, U.S. equity markets held on to losses following the data. The Dow Jones Industrial Average futures indicated a loss of 0.9%, S&P 500 futures fell 1.1%, while the Nasdaq 100 futures shed 0.8%.

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