US September durable goods orders 4.7% versus 1.7% expected

<ul><li>Prior +0.2% revised to -0.1%</li><li>Durable goods orders 4.7% versus 1.7% expected</li><li>nondefense capital goods orders ex air 0.6% vs +1.1% last month (revised up from 0.9%) </li><li>Ex Transportation 0.5% versus 0.2% expected. Prior 0.5% (revised from 0.4%)</li><li>Ex Defense 5.8% versus -0.7% last month</li><li>Shipments -$0.8 billion or -0.3 percent to $283.7 billion. This followed a 0.5 percent August increase.</li></ul><p>Other details showed:</p><ul><li>Unfilled orders for durable goods rose by 1.4 percent or $18.5 billion to reach $1,353.8 billion. This increase follows a 0.3 percent rise in August. The growth was primarily driven by the transportation equipment sector, which increased by 2.1 percent or $17.8 billion to reach $855.7 billion.</li><li>Inventories of manufactured durable goods continued to rise, marking two consecutive months of increase. The total inventories increased by $0.5 billion or 0.1 percent, reaching $523.7 billion. This uptick follows a 0.2 percent increase in August. The machinery sector played a significant role in this growth, with an increase of $0.3 billion or 0.3 percent, bringing its total to $95.1 billion.</li></ul><p>A sharp rebound in durable goods orders and well above expectations indicative of a rebounding manufacturing sector. The gain comes after 2 months of declines (prior month was revised lower to -0.1%). However 5 of the last 7 months have been higher. The gain was the largest of the year</p>

This article was written by Greg Michalowski at www.forexlive.com.