US Durable Goods Orders Decreased in October

The US Department of Commerce announced durable goods order data for October.

Consequently, the volume of durable goods orders decreased by 5.4 percent in October compared to the previous month, to $279.4 billion. During this period, orders were predicted to decline by 3.1 percent.

Durable goods orders, which declined in three of the past four months, rose 4 percent in September, reaching $295.4 billion.

Transportation equipment orders, which fell 14.8 percent in October, influenced the decline in durable goods orders.

While orders excluding transportation showed no change in this period, orders excluding defense decreased 6.7 percent.

Orders for consumer durables, which consist of products with a useful life of at least 3 years, are important because they provide information on industrial production. (AA)