October 2018 US factory orders and revisions to durable goods orders
The downward revisions are the story here.
Durable goods orders revisions
Durable goods orders -4.3% vs -2.4% expected
Durable goods orders initially reported down 4.4% vs -2.6% expected
Prior durable goods orders +0.7%
Capital goods orders non-defense ex air 0.0% (unrevised) vs -0.5% prior
Capital goods shipments nondefense ex air +0.3% vs +0.3% prior
The changes to durable goods orders are small.
Overall, this is a disappointing read on the US economy but it’s balanced by an upbeat ISM non-manufacturing report released at the same time.