Durable Goods Surge On Aircraft Orders Spike, Ex-Air Shipments Tumble For 15th Straight Month

Durable Goods Orders jumped 4.8% MoM in October, the highest since the October 2015 (start of government fiscal year) bounce last year, thanks to a yuuge in transportation orders (up 12.0%) which included a surge in orders for civilian aircraft (up 138.5%) and military aircraft new orders (up 33.1%). However, Core Capital Goods Shipments, i.e. true CapEx, has now declined 15 straight months year-over-year (the longest non-recesionary streak in history).

Lots of excitement that Durable Goods (ex transport) turned green year-over-year for the first time since Dec 2014.

 

But away from the unsustainable Boeing and Military orders...

 

And, Core Capital goods shipments continue to decline...