Economic Takeaways of U.S. Durable Goods Orders, Confidence
- Demand for core capital goods unexpectedly fell in September
- Conference Board's sentiment gauge dropped to three-month low
This article is for subscribers only.
What you need to know about Tuesday’s U.S. economic data:
The Takeaway: The decline in orders for core capital goods and a sharp downward revision to August highlights the toll on American factories from a strong U.S. dollar, a first-half inventory overhang, a slowing energy sector and weak demand from overseas customers. Fewer capital goods shipments in August than previously reported and progress in reducing stockpiles prompted economists at JPMorgan Chase, Barclays and Morgan Stanley to reduce their tracking estimates for third-quarter gross domestic product. The Commerce Department will issue its first estimate of 3Q GDP on Thursday.