USA Durable goods orders jumped 1.0% in October, far more than the 0.4% increase expected by consensus. Orders in the transportation category sprang 2.1%, with gains in the defense aircraft (+21.7%), civilian aircraft (+7.4%), and vehicles and parts (+0.6%) segments. Excluding transportation, orders advanced 0.5% after retreating 0.9% in September. The report showed, also, that orders [...]
USA • Retail sales increased 1.3% in October, overshooting the +1.0% print expected by economists. There was no revision to the prior month’s flat line (+0.0%). Higher sales of motor vehicles and parts (+1.3%) contributed positively to the headline print in October. Without autos, retail outlays still advanced 1.3% on gains for gasoline stations (+4.1%), [...]
USA • There was some clear relief in consumer inflation in October, which is a welcome development for households and policymakers alike. The headline consumer price index rose "just" 0.4% during the month, which was below the Bloomberg consensus expectation for a 0.6% gain and caused the year-ago pace to fall back to 7.7%, or [...]
USA • The ISM Manufacturing PMI slipped from 50.9 in September to 50.2 in October, marking the weakest expansion in the sector since the early months of the pandemic. The output index rose from 50.6 to 52.3 and the new orders index went from 47.1 to 49.2but remained in contraction territory (<50) for the fourth [...]
