The Independent Market Observer

Economic Release Snapshot: Durable Goods Orders Beat Expectations

Posted by Sam Millette

This entry was posted on Nov 28, 2022 10:41:40 AM

and tagged In the News

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Monday UpdateEach week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead. 

Reports for the Week of November 21

Durable goods orders, October preliminary (Wednesday)

  • Expected/prior month durable goods orders monthly change: +0.4%/+0.3%
  • Actual durable goods orders monthly change: +1.0%
  • Expected/prior month core durable goods orders monthly change: 0%/–0.9%
  • Actual core durable goods orders monthly change: +0.5%
Both headline and core durable goods orders came in above expectations during the month, which was a good sign for business spending.

FOMC meeting minutes, November (Wednesday)

The minutes from the most recent Fed meeting showed that central bankers are carefully monitoring the path of inflation as they consider slowing the pace of rate hikes at future meetings.

Upcoming Reports for the Week of November 28

Conference Board Consumer Confidence, November (Tuesday)
Consumer confidence is set to decline modestly in November, echoing a similar decline in the University of Michigan consumer sentiment survey.

Personal income and spending, October (Thursday)
Both personal income and personal spending are expected to show continued growth in October.

ISM Manufacturing, November (Thursday)
Manufacturing confidence is expected to fall into contractionary territory during the month, highlighting the industry’s headwinds.

Employment report, November (Friday)
Economists expect to see 200,000 jobs added during the month, which would be a step down from the 261,000 that were added in October but still strong on a historical basis.

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