The 1.1% m/m decline in durable goods orders in September was only partly due to the GM strike, with an unexpected decline in commercial aircraft orders and weakness in underlying orders also contributing to the contraction. Third-quarter business equipment investment appears to have contracted slightly, supporting our view that GDP growth was a muted 1.5% annualised.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.