Durable Goods Orders jumped 4.8% MoM in October, the highest since the October 2015 (start of government fiscal year) bounce last year, thanks to a huge jump in transportation orders (up 12.0%) which included a surge in orders for civilian aircraft (up 138.5%) and military aircraft new orders (up 33.1%). However, Core Capital Goods Shipments, i.e. true CapEx, has now declined 15 straight months year-over-year (the longest non-recessionary streak in history).
Lots of excitement that Durable Goods (ex transport) turned green year-over-year for the first time since Dec 2014.
But away from the unsustainable Boeing and Military orders...
And, Core Capital goods shipments continue to decline...
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