Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods rose 0.7 percent in November, following an upwardly revised 1.1 percent increase in October. Over the past year, new orders are up 4.5 percent. Excluding transportation equipment, new orders have been growing rather swiftly as of late, rising 1.6 percent in November following gains of 1.9 percent and 1.7 percent in October and September, respectively. Despite the relative strength in the near-term, on a year-over-year basis new orders excluding transportation equipment are up just 2.8 percent. Orders for non-defense capital goods excluding aircraft, which is used to evaluate the near-term outlook in equipment and software investment, has rebounded sharply from some softness in the third quarter, rising 3.2 percent in October and increasing 2.7 percent in November. helping to pull its 12-month growth rate above zero (up 0.1 percent). Shipments of durable goods rose 1.5 percent in November, after a relatively sharp upward revision to October&rsquo's data (from a decrease of 0.6 percent to a slight increase of 0.1 percent). Perhaps more striking is that shipments of non-defense capital goods excluding aircraft, which map directly into GDP, jumped up 1.8 percent in November, following a gain of 0.6 percent in October (revised up from a 0.4 percent decline). On a year-over-year basis, shipments of non-defense cap goods ex aircraft are up 5.3 percent.