Durable Goods Orders (MoM) (US)
Core Orders Turned Positive Again in August
Starts Thursday, October 24, 2019 at 12:30
Updated Thursday, October 17, 2019
Durable goods orders have been pretty volatile so far this year. Orders came from a massive 4.4% decline in October, but they turned positive again in November growing by 0.8% that month and in December they grew by 1.2%. Although, the report released last month which was for February showed another big decline of 1.6% for headline orders while core orders increased by 0.1% initially but were reversed to -0.1%. For March, orders were expected to turn positive again which they did and increase by 0.7% while core orders were expected at 0.2%. Core orders came double that, increasing by 0.4% while headline orders jumped 2.7% higher. But, headline orders posted another big decline of 2.1% for April, although core orders remained steady. For May, durable goods orders were expected to increase by 0.1% but they declined again by 1.3% this time. On the other hand, core orders were pretty stable, growing by 0.3%, which was revised higher to 0.4% later. So, the transportation orders have been dragging headline orders down. In July, core orders declined by 0.4%, but they turned positive again in August,increasing by 0.5%. This report will be for September,so let's see if durables can keep the pace. 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.