FAST FIVE: (Nominal) US Durable Goods Orders Soar In October, Shipments Spike

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(Nominal) US Durable Goods Orders Soar In October, Shipments Spike Analysts expected a small rebound in preliminary October Durable Goods Orders after September's disappointing decline in core orders and CapEx.

The headline orders print soared 1.0% MoM, smashing expectations of a 0.4% MoM rise.

That is the 3rd straight month of rising orders and leaves the YoY gain at 10.7%.

Source: Bloomberg Core (ex-transportation) orders shot up 0.5% MoM (even after seeing September's print revised lower to -0.9% MoM) Source: Bloomberg The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.7% last month after a downwardly revised 0.8% decline in September GDP will get juiced by this print as non-defense, ex-aircraft shipments surged 1.3% MoM.

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