23 Dec 2015
Preview: US durable goods orders likely fell 0.7 per cent in November
FXStreet (Mumbai) - Durable goods orders in November are expected to have shrunk -0.7 per cent after a marginal 0.3 per cent increase seen earlier. The decline will mark the sixth fall in durable goods orders in the last eleven month. Year on year, durable goods orders excluding transportation declined for the ninth consecutive month in October.
Non-Defense Capital Goods Orders excluding Aircrafts is believed to have dropped in November for the first time since August. Month on month, the non-defense capital goods order excluding aircraft is expected to show a 0.2% decline. A decline in orders for nondefense aircrafts has likely weighed on overall transportation orders. On the other hand, the non defense capital goods orders excluding shipments are expected to have registered small gains of 0.5% as per consensus. Societe Generale believes "A tug of war between reduced transportation equipment requisitions and a projected pickup in other "hard" goods booking probably left durable goods orders just 0.1% higher in November, after a 2.9% rise in the previous month”.
The ISM manufacturing new orders subindex contracted in November for the first time since August 2012; while the industrial production of durable goods also excluding transportation recorded a small gain. From these data it is evident that the pace of manufacturing activity in November has been rather slow.
Non-Defense Capital Goods Orders excluding Aircrafts is believed to have dropped in November for the first time since August. Month on month, the non-defense capital goods order excluding aircraft is expected to show a 0.2% decline. A decline in orders for nondefense aircrafts has likely weighed on overall transportation orders. On the other hand, the non defense capital goods orders excluding shipments are expected to have registered small gains of 0.5% as per consensus. Societe Generale believes "A tug of war between reduced transportation equipment requisitions and a projected pickup in other "hard" goods booking probably left durable goods orders just 0.1% higher in November, after a 2.9% rise in the previous month”.
The ISM manufacturing new orders subindex contracted in November for the first time since August 2012; while the industrial production of durable goods also excluding transportation recorded a small gain. From these data it is evident that the pace of manufacturing activity in November has been rather slow.