US August prelim durable goods orders +0.4% vs +1.4% expected

  • Prior was +11.4% (revised to +11.7%)
  • Durables ex transportation +0.4% vs +1.0% expected
  • Prior ex transportation +2.6% (revised to +3.2%)
  • Capital goods orders non-defense ex-air +1.8% vs +1.0% expected
  • Prior capital goods orders non-defense ex-air +1.9% (revised to +2.5%)
  • Capital goods shipments non-defense ex-air +1.5% vs +0.8% expected
  • Prior capital goods shipments non-defense ex-air +2.4% (revised to +2.8%)

Don’t be fooled by the headline, core orders were strong in August with an upward revision. The strong shipments numbers are also good for Q3 GDP.

 Head of Trading Dimitar Kalapov

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