War-Spending Decrease Leads to Steep Fall in U.S. Durable Goods Orders for October

The U.S. economy shows troubling signs as durable goods orders fell sharply by 5.4% in October, significantly more than the expected 3.2% decrease. This decline points to a slowdown in economic activity, with year-over-year growth now at a nominal 0.9%. Major reductions in defense and non-defense aircraft spending, alongside stagnant core capital goods shipments, indicate weakening industrial demand, signaling potential economic challenges ahead.