Preview: Due November 27 - U.S. October Durable Goods Orders - Slightly stronger despite Boeing strike
We expect October durable orders to increase by 1.0% overall following two straight modest declines with a 0.4% increase ex transport. This would be a third straight rise, if slightly slower than in the preceding two months.
While a now settled strike at Boeing continued through October, Boeing orders were little changed from September and we expect modest gains in autos and defense, which has a large overlap with transport. Ex defense, we expect orders to rise by 0.8%.
ISM manufacturing orders remained weak in October, but were less negative for the second straight month hinting that a modest recent improvement in durable goods orders ex transport can be sustained.
We expect non-defense capital orders ex aircraft, a key indicator of business investment, to rise by 0.2% after a stronger 0.7% increase in September. Like the ex transport series, this would be a third straight increase.
