Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods rose 5.7 percent in February. Over the past year, new orders are up 3.8 percent. Much of the increase in the headline number was due to a large increase in transportation equipment (up 21.7 percent). Excluding transportation equipment, new orders decreased 0.5 percent in February, following gains of 2.9 percent and 0.8 percent in January and December, respectively. Despite the relative strength in the near-term, on a year-over-year basis new orders excluding transportation equipment are up just 1.4 percent. Orders for nondefense capital goods excluding aircraft, which is used to evaluate the near-term outlook in equipment and software investment, fell 2.7 percent in February. Shipments of durable goods, which are up 4.7 percent over the past year, rose 1.0 percent in February, more than reversing a 0.7 percent decrease in January. Perhaps more encouraging is that shipments of nondefense capital goods excluding aircraft, which map directly into GDP, rose 1.9 percent in February. On a year-over-year basis, shipments of nondefense cap goods excluding aircraft are up 3.5 percent.