US Durable Goods Orders Increased Again in September, After Cooling off in August - Forex News by FX Leaders
Core durable goods orders increased by 0.8% in September

US Durable Goods Orders Increased Again in September, After Cooling off in August

Posted Tuesday, October 27, 2020 by
Skerdian Meta • 1 min read

Durable goods orders in the US posted some major declines during March and April, when the country was in lockdown, but they surged higher from May until July. In August, orders cooled off considerably, posting a steep decline from 11.2% to 0.5%.

That raised some eyebrows, suggesting that the US economy might be cooling off, but goods orders increased again in September, with headline sales increasing to 1.9% and core sales to 0.8% from 0.4%. This is a positive signal for the US economy and the US Dollar in the coming month, because the USD didn’t react to this news.

 

 

  • Prior was +0.5% (revised to +0.4%)
  • Durables ex transportation +0.8% vs +0.4% expected
  • Prior ex transportation +0.6% (revised to +1.0%)
  • Capital goods orders non-defense ex-air +1.0% vs +0.5% expected
  • Prior capital goods orders non-defense ex-air +1.9% (revised to +2.1%)
  • Capital goods shipments non-defense ex-air +0.3% vs +0.4% expected
  • Prior capital goods shipments non-defense ex-air +1.0%
The headline is strong, along with generally positive revisions. What’s not to like? Business investment continued in September, despite all the uncertainty in the economy and with the virus. The economy is showing some impressive resilience.
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