US: Downside surprise in durable goods orders – TDS
|Analysts at TD Securities note that the US durable goods orders surprised to the downside at -2.0% MoM in November, posting its sharpest decline since May.
Key Quotes
“The November figure was closer to our -1.2% projection but fell notably below expectations at +1.5%. The main culprit behind the retreat in orders was a sharp -1.8% m/m decline in the nondefense aircraft segment (largely reflecting Boeing woes), which more than offset a 1.9% gain in vehicle orders. Indeed, orders ex-transportation was actually flat m/m; while core capex orders advanced a soft 0.1% m/m. Separately, core capex shipments actually declined -0.3% m/m, which doesn't bode well for Q4 GDP calculations.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.