U.S. durable orders rose 0.8% in September
U.S. durable orders rose 0.8% in September, better than expected, after bouncing 4.6% in August (revised from 4.5%). Transportation orders climbed 1.9% (thanks to a 119.1% surge in defense aircraft) after jumping 13.2% previously (revised from 13.0%). Excluding transportation, orders edged up 0.1% versus a 0.3% gain previously (revised from 0.1%). Nondefense capital goods orders excluding aircraft dipped 0.1% versus -0.2% (revised from -0.5%), following four months of solid gains. Shipments climbed 1.3% versus the prior 0.9% gain (revised from 0.8%). Nondefense capital goods shipments excluding aircraft were flat again, as in August (revised from 0.1%). Inventories were up 0.7% from -0.2% (revised from -0.4%). The inventory-shipment ratio was fell to 1.60 from 1.61.