Durables Goods Data Ugly Across The Board, Worst Since Polar Vortex

Against expectations of a jubilant 3% surge in November, Durable Goods Orders slipped 0.7% - the biggest miss since December 2013. Perhaps even more worrisome, YoY Durable Goods Orders rose at a mere 0.3% - the slowest since the Polar Vortex. Across the board the data was a disaster, ex-Transports -0.4% (against expectations of a 1% rise), Cap Goods Order non-defense were unchanged (against expectations of a 1% rise) and shipments rose just 0.2% (missing expectations of a 1.3% rise)... But apart from that, everything's great.

MoM miss biggest since Dec 2013

 

YoY slowest rate since the Polar Vortex...

 

And breaking it down looks just as bad...

 

 

Miss...miss... miss... miss....

Must be the weather!!

 

Charts: Bloomberg