Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods rose 0.5 percent (nonannualized) in February, following a relatively strong 3.9 percent jump-up in January. However, January’s surge was mostly due to a spike in aircraft orders. Excluding transportation, new orders increased 0.9 percent in February, rebounding from a 0.6 percent decline in January. Its 3-month annualized growth rate is still up 9.2 percent and is outpacing its longer-term (12-month) trend of 7.9 percent. Orders for nondefense capital goods excluding aircraft increased 1.1 percent in February, regaining some of January’s 3.9 percent drop. While its 12-month growth rate remained a solid 7.9 percent, over the past three months the series is up a mere 0.5 percent (annualized rate), hinting at some upcoming softness in investment goods. Shipments of durable goods decreased for the second consecutive month, slipping down 0.6 percent (nonannualized) in February. On the other hand, manufacturers added 0.3 percent to inventories in February, following a 0.1 percent gain in January.