US durable goods orders declined in September

FXStreet (Mumbai) – The US durable goods orders declined in September as corporate America had little reason to expand due to weak global demand.

Demand for all durable goods fell 1.2%. The previous figure was revised lower to 2.3%. The demand for or non-military capital goods excluding aircraft dropped 0.3% after a downwardly revised 1.6% in August.

Shipments of non-defense capital goods excluding aircraft, which is used to calculate gross domestic product, rose 0.5% after a 0.8% drop in August.

The report is alarmingly weak given the sharp downward revision of the previous month’s figure. The 10-yr US treasury yield now trades more than two basis points lower on the day at 2.032%.

The US durable goods orders declined in September as corporate America had little reason to expand due to weak global demand.

(Market News Provided by FXstreet)