US: Durable goods orders likely to contract 1.3% in September – TDS

Analysts at TD Securities are expecting the US durable goods orders to post a -1.3% MoM contraction in September (mkt: -0.7%) largely on the back of a large decline in vehicle new orders.

Key Quotes

“More importantly, we expect both core orders series to also disappoint in September, with durables ex-transportation and core capex orders declining -0.2% and -0.8%, respectively. Separately, the Kansas City Fed index and the preliminary Markit survey should provide additional clues regarding the performance of the manufacturing sector in October.”