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Core Capital Goods Orders Plunge Most In 13 Months

Core Capital Goods Orders Plunge Most In 13 Months

After rebounding from its July jolt, Durable Goods New Orders dramaticaly missed expectations in October (dropping 1.2% vs expectations of a 0.3% rise). Perhaps even more concerning is the drop in Core Capital Goods Orders (-0.5% MoM vs expectations of a 0.5% rise) – the biggest drop in 13 months.

The June/July swing (Boeing orders) and storm bounce has gone and October’s preliminary print suggests a slowdown…

Aircraft orders tumbled:

  • Nondefense aircraft orders -18.6%

  • Defense aircraft orders -11.3%

Removing the impact of aircraft orders and defense spending, we have a problem in the real economy…

 

Is this as good as it gets?

 

But then again – what does the real economy matter anyway?

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