Durable Goods Exceeded Expectations in October

New orders for US-manufactured durable goods rose in October to a seasonally adjusted $277.4 billion. That figure has risen for seven out of the last eight months. Shipments picked up as well last month despite persistent inflation and global economic instability.

Last month’s bookings for durable goods were up roughly 1%, or $2.8 billion more month-on-month (MoM)—ahead of a consensus expected gain of 0.4%, according to the US Census Bureau. Figures are not adjusted for inflation.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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