Durable Orders increased by 3.3% during September to $199.2 billion, higher than the expected 2.3% increase. This was primarily due to a 105% increase in orders for civilian aircraft following a 30% decline in August. Durable orders decreased by 1.0% in August, revised upwards from the originally reported 1.3% decrease. Excluding transportation, which increased by 15.7%, orders decreased 0.8%, the second such decline in the last three months. Core capital goods also declined by 0.6% after a 4.8% increase in August. Inventories rose for the ninth consecutive month, by 0.5%.
New Home Sales for September are expected today at 10:00 AM EST to increase to a 299,000 annual pace, after remaining unchanged in August at an annual pace of 288,000 homes with a median sales price of $204,700 and an average sales price of $248,800.
Crude inventories are expected today at 10:30 AM EST. For the week ending October 15, U.S. commercial crude oil inventories had increased by 0.7 million barrels from the previous week to 361.2 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 14.0 million barrels per day during this period, 47 thousand barrels per day below the previous week’s average. U.S. crude oil imports were averaging 8.6 million barrels per day, up by 472 thousand barrels per day from the previous week.
Upcoming Releases
New Home Sales (10/27 at 10:00 AM EST)
Crude Inventories (10/27 at 10.30 AM EST)
Initial Claims (10/28 at 8.30 AM EST)
GDP Q3 Advance (10/29 at 8.30 AM EST)
