News Bites
U.S. durable goods orders fall 0.5%, core orders rise 0.5%
(Kitco News) - Activity in the manufacturing sector was mixed in October; however, some economists note that sector sectors continue to build momentum.
Wednesday, the Commerce Department said that U.S. durable-goods orders fell by 0.5% in October, following a 0.2% decline in September. The data was much weaker than expected; consensus expectations compiled by various news organizations called for durables to rise by 0.2%.
However, stripping out the volatile transportation sector, core durable goods rose 0.5%, in line with expectations. Capital goods orders, stripping out airplane manufacturing and defense contracts, increased 0.6%. Economists were expecting to see a 0.5% increase.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
