US Durable Goods Orders decline 5.4% in October vs. -3.1% expected
- Durable Goods Orders in the US contracted at a faster pace than expected in October.
- US Dollar Index continue to fluctuate in a tight range above 103.50.
Durable Goods Orders in the United States declined by 5.4%, or $16 billion, to $279.4 billion in October, the Census Bureau reported on Wednesday. This reading followed the 4.6% increase recorded in September and came in worse than the market expectation for a contraction of 3.1%.
"Excluding transportation, new orders were virtually unchanged," the press release read. "Excluding defense, new orders decreased 6.7%. Transportation equipment, also down three of the last four months, drove the decrease, $16.0 billion, or 14.8%, to $92.1 billion."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen rising 0.1% on the day at 103.70.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
