Highlights
The manufacturing of consumer goods is helping the manufacturing sector to expand. October factory orders rose 0.6 percent with details showing a 0.6 percent rise in durable consumer goods and a 2.3 percent rise in nondurable consumer goods, the latter always sensitive to price changes for energy. The gains helped to offset a 2.1 percent drop in orders for capital goods. Orders for motor vehicles, which is a major component in the report, rose 0.4 percent following surges of more than 4 percent in the prior two months. Strong unit vehicle sales in November point to sustained strength for vehicle orders. The manufacturing sector, during the summer, was among the very first sectors to flatten out and then turn higher. Today's data, especially together with this morning's extremely upbeat jobs report, point to sustained gains for factory orders, orders that are perhaps underpinned, in what would be a surprise to many, by domestic consumer demand.

Market Consensus before announcement
Factory orders rebounded strongly in September, rising 0.9 percent after a 0.8 percent decline in August. September's gain was led by durable goods orders which rose 1.4 percent. The non-durable goods component, boosted by chemical prices, rose 0.6 percent. Looking ahead, we are likely to see a weak number for October as the advance durables report showed a 0.6 percent drop, following a revised 2.0 percent increase in September. But the nondurables component may be a positive, boosted by further increases in energy costs.

2009 Release Schedule

Released On: 1/6 2/5 3/5 4/2 5/1 6/3 7/2 8/5 9/2 10/2 11/3 12/4 Release For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct