Durable Goods Orders Stumble In November – Business Spending Drops Most Since 2016

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Headline durable goods orders rose 1.3% in November (prelim), missing expectations of a 2.0% rise, but core durable goods fell in the preliminary November print – the worst drop since April.

Perhaps even more concerning is the 0.1% drop in capital goods new orders ex-aircraft and parts – i.e. business spending – this is the equal weakest print in 2017.