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ECON: Durable Goods Much Stronger Than Expected
Posted to: Micro News
Tuesday, December 24, 2013 8:38 AM
- Nov Durables +3.5 vs +2.0 forecast
- Oct revised to -0.7 from -1.6
- Excluding transportation +1.2 vs +0.6 forecast
- Market Reaction: bond markets move sharply weaker after drifting into weaker territory overnight
New orders for manufactured durable goods in November increased $8.2 billion or 3.5 percent to$241.6 billion, the U.S. Census Bureau announced today. This increase, up three of the last four months,followed a 0.7 percent October decrease. Excluding transportation, new orders increased 1.2 percent.Excluding defense, new orders increased 3.5 percent.
Transportation equipment, also up three of the last four months, led the increase, $6.3 billion or 8.4 percent to$81.2 billion. This was led by nondefense aircraft and parts, which increased $3.9 billion.
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