Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durables fell 0.9 percent (nonannualized rate) in February, following an increase in January that was revised up from 2.7 percent to 3.6 percent. Compared to recent estimates of aircraft orders (a 54 percent decline in December and 187 percent spike in January), February dropped in at a tame 8.7 percent. Excluding transportation, durables fell 0.6 percent, recovering somewhat from January’s upwardly revised 3.0 percent drop. The 3-month annualized growth rate in durables new orders excluding transportation now stands at a 3.6 percent decline, and the 12-month growth rate is currently 8.5 percent. An important signal of future equipment and software investment—new orders of nondefense capital goods excluding aircraft—fell 1.3 percent in February. Its 12-month growth rate slipped to 9.3 percent in February (down from 16.0 percent in January) and its 3-month annualized growth rate tumbled to a 13.4 percent decline. Shipments of durables excluding transportation rose at the same 0.1 percent rate as in January and are up 8.5 percent over the past year. Durables inventories continued to grow, with February adding another 0.9 percent.