2014.11.2612:42:00UTC+00Us Economic Activity Will Moderate to a more Sustainable Pace in Q4: Barclays Capital

Quotes from Barclays Capital:
- Durable goods orders rose 0.4% in October, broadly in line with our forecast (0.1%) and above the consensus outlook (-0.6%) for a modest decline.  The headline durable goods data was boosted by a sharp increase in defense orders (11.0% m/m) and a modest gain in transportation (3.4%) orders. However, stripping out the volatile components, core durable goods orders fell 1.3% in October, which was well below our (1.0%) and consensus expectations (1.0%) of a modest rise.
- Overall, we view the October durable goods report as reflecting some give-back in core orders and shipments following the sharp rebound in activity in Q2 14 and Q3 14. 
- Our outlook is for economic activity to moderate to a more sustainable pace in Q4, which would correlate to a slowing in the growth of durable goods orders and shipments.