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Durable Goods Orders Bounce In September - Remain Below 2007 Highs

While total durable goods orders have stagnated below 2007 highs for the last 4 years, thanks to a better-than-expected 2.2% jump in September, the YoY gain was an impressive-sounding 8.3% (the 8th month in a row of annual gains).

Context is king...

 

Under trhe covers, eveything was rosy:

  • U.S. Sept. Durable Goods Orders Rise 2.2%; Est. Up 1%
  • Durable goods new orders unrevised for Aug. at 2%, the Census Bureau said
  • New orders ex-trans. rose 0.7% in Sept. after 0.7% rise
  • New orders ex-defense rose 2% in Sept. after 2.6% rise
  • Non- defense capital goods orders ex-aircraft rose 1.3% in Sept. after rising 1.3% in Aug.

The question is- how muich of this is one-off demand dragged forward due to the storms?

But of course, since when did 'hard' economic data matter any way?