The growth in US core durable goods orders showed signs of slowing in October 2024, according to the latest data updated on November 27, 2024. The core durable goods orders indicator, which measures new orders placed with domestic manufacturers for delivery of factory hard goods, excluding volatile transportation items, increased by just 0.1% in October. This represents a notable decrease from the 0.4% growth reported in September 2024.
The month-over-month comparison indicates that manufacturers are experiencing a slower rate of new orders, potentially hinting at reduced demand or cautious capital expenditure among businesses. The sharp decline in growth momentum from September to October could signal economic insights into business confidence and investment trends as the holiday season approaches.
As the US economy continues to navigate various headwinds, this downturn in core durable goods orders may impact forecasts and anticipations amongst analysts and policy-makers who monitor these trends closely for signs of broader economic health. The data underscores the importance of ongoing assessments of manufacturing activity as a critical component of overall economic vitality.
