Durable Goods Orders (MoM) (US)
Durable Goods Orders Cooled Off in August
Starts Tuesday, October 27, 2020 at 12:30
Updated Tuesday, October 20, 2020
Durable goods orders were pretty volatile last year. In September, durables posted a big decline of 1.2%, while core orders declined by 0.4%, but they reversed higher in October, growing by 0.6%, which were both revised to 0.5% though. November's report showed a big decline of 2.0% for headline orders, which were revised to -2.1% last week, but at least, core orders only declined by 0.1%. In December, headline orders jumped strongly by 2.4%, but core orders declined by 0.1% once again. In January though, headline orders declined by 0.2%, while core orders jumped 0.8% higher. But, in March we saw a massive decline of 14.7% in headline orders, although core orders only declined by 0.4%. But, the decline increased in April during the peak of the lock-down and orders fell by 17.7%, while core orders declined by 7.7%. Although, headline orders posted a decent jump of 15.7% in May, but core orders only increased by 3.7% that month and by 3.6% in June, while headline orders increased by 7.6%. July was another strong number, with orders jumping by 11.2%, which were revised higher to 11.2%, but in August orders fell to 0.4%, but were revised to 0.5% last week. Please follow us for live coverage of this event by experienced market analysts and the impact it might have on the currency.
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About Durable Goods Orders (MoM) (US)
Released by the U.S. Census Bureau, Durable Goods Orders are published on a monthly basis. The report measures the dollar value of orders received by manufacturers for goods lasting three years or more. Examples are motor vehicles and large household appliances.Durable goods involve a larger than normal capital investment. It is due to this fact that they are viewed as being accurate barometers of consumer confidence and spending levels. Higher than expected levels are viewed as bullish for the USD, while underperforming metrics are bearish.