US durable goods orders down 0.5% in October
New orders for manufactured durable goods in the United States declined more than expected at 0.5% or $1.2 billion in October to land at $260.1 billion, according to a report published by the Census Bureau on Wednesday.
Excluding transportation, new orders increased by 0.5%, the report noted, adding that excluding defense, new orders decreased 0.8%. Transportation equipment led the decrease by dropping $2.0 billion or 2.6 percent to $75.3 billion.
Shipments of manufactured durable goods rose by $4.0 billion or 1.5% to $261.5 billion, while unfilled orders grew by $3.1 billion or 0.2% to $1,249.7 billion. Inventories expanded $2.8 billion or 0.6% to $466.0 billion, with nondefense new orders for capital goods declining $1.0 billion or 1.2% to $83.8 billion.
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