“Astute: adj. shrewd, perceptive, discerning, an ability to notice and understand things clearly, mentally sharp, clever”

Without your health, what have you got?  Take back your power!

US Durable Goods Orders Unexpectedly Soar In March… Thanks To Boeing

us-durable-goods-orders-unexpectedly-soar-in-march…-thanks-to-boeing

US Durable Goods Orders Unexpectedly Soar In March… Thanks To Boeing

After declining for two straight months, analysts expected US durable goods orders to bounce modestly (+0.7% MoM) in preliminary March data released today. Instead the print soared 3.2% MoM rescuing the YoY from dropping negative for the first time since Aug 2020…

Source: Bloomberg

Core orders (ex-Transports) rose 0.3% MoM (better than the 0.2% drop expected) highlighting that this headline surge was all Boeing – with a 78.4% MoM surge in non-defense aircraft and parts orders

Source: Bloomberg

On the negative side, the value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, fell 0.4% last month with a big downward revision to -0.4% MoM in February.

Shipments also tumbled 0.4% MoM.

So, aside from Boeing, this is not pretty at all.

Tyler Durden
Wed, 04/26/2023 – 08:38

Related articles