Durable Goods Orders Stumble In November - Business Spending Drops Most Since 2016

Headline durable goods orders rose 1.3% in November (prelim), missing expectations of a 2.0% rise, but core durable goods fell in the preliminary November print - the worst drop since April.

Perhaps even more concerning is the 0.1% drop in capital goods new orders ex-aircraft and parts - i.e. business spending - this is the equal weakest print in 2017.