US Core Durable Goods Orders Rise For 17th Straight Month In August

With PMIs soaring to multi-year highs earlier in the week, US durable goods orders were expected to be mixed in preliminary August data.

And mixed it was (with plenty of revisions)... the headline print was unchanged MoM (better than the 0.3% MoM decline expected) with a small revision lower for July.

Boeing reported fewer orders in August compared with the prior month.

However, Ex-Transports disappointed, rising just 0.3% MoM (half the expected 0.6% MoM rise) with a revision higher for July. That leaves core orders up 11.1% YoY - the highest since Q2 2022.

But, that is still the 17th straight monthly rise in core durable goods orders...

Additionally, Capital Goods Orders (non-defense, Ex-Air) soared 1.6% MoM (more than double the 0.56% MoM expected)

Finally, shipments figures (which actually plug into GDP) were in line with expectations (with July revised up), suggesting resilience to Q3 forecasts.