US durable goods orders fell -2.2% mom to USD 307.4B in October, undershooting expectations for a -1.5% decline. The weakness was driven largely by transportation equipment, which dropped -6.5% to USD 103.9B after two consecutive monthly increases.
Beneath the surface, underlying demand appeared more resilient. Orders excluding transportation rose 0.2% mom to USD 203.5B, in line with forecasts, suggesting steadier business investment outside volatile categories. Orders excluding defense declined -1.5% mom to USD 286.5B.
