Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods jumped up 2.9 percent (nonannualized) in April, following an upwardly revised unchanged reading in March. The increase brings the series to its highest level since September 2008, as it has been unsteadily climbing toward its pre-recession levels since hitting a cyclical low in March 2009. April’s overall climb was largely due to a 16.1 percent rise in new orders for transportation equipment. Excluding transportation, new orders fell 1.0 percent, pulling down the 12-month growth rate to 18.0 percent from a series high of 19.2 percent in March. Orders for nondefense capital goods excluding aircraft fell 2.4 percent after jumping 6.5 percent in March. Still, the series’ 12-month growth rate rose to 21.4 percent, a series high, and its 3-month annualized growth rate climbed to 31.5 percent. Shipments increased 1.4 percent in April, the second straight increase after two consecutive months of declines. Manufacturers added 0.7 percent to inventories, the fourth consecutive month of gains after declining every month since September 2008. On a year-over-year basis, the series has been steadily climbing since hitting a recent low in October 2009, but is still down 5.4 percent.