Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods fell 5.2 percent in January. Over the past year, new orders are down 1.0 percent. Much of the decline in the headline number was due to a large decline in transportation equipment (down 19.8 percent in January). Excluding transportation equipment, new orders grew 1.9 percent in January, following gains of 1.0 percent and 1.2 percent in December and November, respectively. Despite the relative strength in the near-term, on a year-over-year basis new orders excluding transportation equipment are up just 3.0 percent. Orders for non-defense capital goods excluding aircraft—which is used to evaluate the near-term outlook in equipment and software investment—jumped up 6.3 percent in January. Shipments of durable goods fell 1.2 percent in January, more than reversing a 0.54 percent increase in December. Perhaps more disconcerting is that shipments of non-defense capital goods excluding aircraft, which map directly into GDP, fell 0.95 percent in January. On a year-over-year basis, shipments of non-defense cap goods excluding aircraft are up 2.6 percent.