US durable goods orders likely to decline moderately in November

US durable goods bookings for the month of November are expected to decline modestly by 0.7% mom by the market consensus, the durable goods orders excluding transportation are likely to be steady mom.

Non defense capital goods orders excluding aircraft are expected to show a slight decline of 0.2% mom, while the Non defense capital goods orders excluding shipments are expected to record modest gains of 0.5% as per consensus.

"A tug of war between reduced transportation equipment requisitions and a projected pickup in other "hard" goods booking probably left durable goods orders just 0.1% higher in November, after a 2.9% rise in the previous month", says Societe Generale in a research note.

The partial reversal of previous month's trebling of civilian jetliner bookings, transportation equipment requisitions likely dropped in November.