Durable goods new orders fell -2.2% MoM (vs -1.5% MoM expected) in October, the largest monthly decline since June.

• Durable goods (ex transport) new orders were up 0.2% MoM (vs 0.3% MoM expected). The headline total was affected by a -6.5% MoM drop in transport orders.
• The strongest segments were machinery (+0.8% MoM) and electronic products (+1.0% MoM), offset by a -0.7% MoM decline in primary metal orders.
• Core capital goods shipments and new order growth were both solid in October, at 0.7% MoM and 0.5% MoM, respectively. YoY new order growth accelerated from 2.7% YoY to 3.1% YoY.
• Core capital goods inventories increased 0.2% MoM and 2.6% YoY in October, adding to a strong 0.4% MoM increase in September.