While the fall in durable goods orders in September was mostly due to the volatile transportation components, the decline in underlying capital goods shipments will still drag on business equipment investment. The surge in aircraft shipments earlier in the quarter probably prevented overall business equipment from declining in the third quarter, but the weak September data set the stage for a softer fourth quarter.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.