Durable goods orders fall less than expected

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Shoppers reach for television sets as they compete to purchase retail items on Black Friday at a store in Sao Paulo, Brazil, November 24, 2016.
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Nacho Doce/Reuters

Durable goods orders fell less than forecast in October, according to a report from the Commerce Department released on Wednesday.

Orders for things built to last such as appliances fell 4.6% (-4.8% forecast.)

Excluding transportation equipment, which clearly can be quite volatile, core durable goods orders rose 0.5% (0.2% expected.)

Capital goods orders for nondefense items excluding aircraft – an important gauge of business spending – increased by 0.9% (0.4% expected.) This is a closely watched metric in the report because it provides clues about corporate America’s spending plans.