Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods jumped up 3.8 percent (nonannualized rate) in November, though that was almost entire due to a sharp spike in orders of transportation equipment—which rose 14.7 percent during the month. Excluding transportation, new durables orders increased 0.3 percent in November, following an upwardly revised 1.5 percent gain in October, and is up 7.2 percent over the past year. An important signal of future equipment and software investment—new orders of nondefense capital goods excluding aircraft—slipped down 1.2 percent in November and after a 0.9 percent decline in October, makes its third monthly decrease in the past five months. Despite some near-term softness, the series is still up 6.5 percent over the past year. Shipments of durables fell 0.4 percent in November, following a 1.5 percent jump in October. Durables shipments excluding transportation equipment rose 0.2 percent during the months and are up 9.1 percent over the past year. After a brief pause in September, manufacturers? resumed stocking inventories of durables, adding 0.4 percent in October and 0.6 percent in November. The nominal value of inventories relative to the pace of shipments edged up from 1.8 months to 1.82 months in November, continuing its steady northward climb. And, while it is still down from its recent peak of 1.9 months in May 2009, the I/S ratio is well above its level of 1.5 months at the start of the previous recession.