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.