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Wednesday, October 27, 2010

Monthly Durable Goods Update

The Durable Goods and Core Durable Goods reports for September 2010 were released today with transportation helping the number.   Durable Goods is the change in the total value of new purchase orders placed with manufacturers for durable goods and Core Durable Goods is the same excluding transportation. The forecasted Core Durable Goods was for 0.4%, but the actual headline number was -0.8%.

The forecasted Durable Goods (includes Transportation) was 1.7% and the actual headline number was 3.3%.
Shipments were down again for the 2nd consecutive month and Inventories were up for the 9th consecutive month.  We need to see those numbers reverse.  The biggest losers in durable goods orders were communications equipment with a -18.6% change M-o-M.  The biggest gainers was Transportation with a 15% gain M-o-M, more specifically Defense and Non-Defense aircraft parts.

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