United States Durable Goods Orders

New orders for manufactured durable goods in the US rose by 0.2% over a month to $286.6 billion in October 2024, following a revised 0.4% fall in the prior month and missing market forecasts of a 0.5% growth. Transportation equipment, up following two consecutive monthly decreases, led the increase, $0.4 billion or 0.5% to $97.1 billion. Orders also rose for electrical equipment, appliances, and components (1.3%), machinery (0.3%), and capital goods (0.5%), but decreased for computers and related products (-2.5%) and motor vehicles & parts (-0.4%). Excluding transportation, new orders increased 0.1%. Excluding defense, new orders went up 0.4%. Orders for non-defense capital goods excluding aircraft in the United States, a closely watched proxy for business spending plans, fell by 0.2% in October 2024, following a downwardly revised 0.3% increase in the prior month.