Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durables rose 2.7 percent (nonannualized rate) in January, following a slight decrease in December that was revised up sharply from −2.5 percent to −0.4 percent. However, much of the headline movements lately have been influenced by volatile aircraft orders which fell 54 percent in December, but surged 176 percent in January. Excluding transportation, durables orders plummeted 3.6 percent in January, its largest monthly decline in two years. That said, the near-term trend is still strongly positive. The 3-month annualized growth rate in durables new orders stands at 16.4 percent, continuing to outpace its 12-month growth rate (currently 10.9 percent). An important signal of future equipment and software investment—new orders of nondefense capital goods excluding aircraft—fell 6.9 percent in January, more than reversing an upwardly revised 4.3 percent gain in December. Its 12-month growth rate slipped to a still strong 14.1 percent in January (down from 19.0 percent in December) and its 3-month annualized growth rate dwindled down to 1.1 percent during the month. Shipments of durables excluding transportation increased 0.5 percent in December and are up 9.9 percent over the past year. Also, durables inventories continued to swell, rising 0.7 percent in January (its 13 consecutive monthly gain).