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Aircaft Orders Behind the October Decline in Durable Goods Orders

The two percent decline in U.S. durable goods orders last month was a result of transportation orders, especially aircrafts. Transportation orders in September rose to 13 percent, but cratered 5.9 percent in October. If we dig deeper into transportation, we see that aircraft orders plunged 29.70 percentage points from September. Excluding transportation orders, the decline in durable goods orders for October would have amounted to a decrease of only 0.1 percent.