💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Durable goods orders fall more than forecast

Published 10/27/2016, 08:30 AM
Updated 10/27/2016, 09:00 AM
© Spencer Platt/Getty

Durable goods orders fell 0.1% in September, more than forecast, according to a preliminary release from the Department of Commerce on Thursday.

Economists had estimated that orders for things built to last were flat in September, according to Bloomberg. Excluding transportation orders which are usually quite volatile, so-called core durable goods rose 0.2% as expected.

The headline drop was due to a plunge in orders for defense aircraft and parts.

But capital goods orders for nondefense items excluding aircraft also fell, by 1.2%, more than the forecast for a drop by 0.1%. Besides defense-related items, orders for computer products also fell sharply.

Orders in August were revised higher.

Durable goods orders provide a window into business spending, which has contracted every quarter since the last three months of 2015. That's partly because of weakness in sectors that were exposed to the drop in oil prices.

The full report will be released on November 3.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.