US Factory Orders Slide In October

Following the dismally weak preliminary durable goods orders drop (-1.2% MoM) as aircraft orders tumbled, October Factory Orders declined but were better-than-expected (-0.1% vs -0.4% exp) after an upwardly revised September (up from +1.4% to +1.7% MoM).

Overall Durable Goods orders werre also revised higher from their preliminary prints. Most notably, core capital goods orders were revised from a 0.5% MoM slump to a 0.3% gain.