After crashing in January (driven by the collapse in Boeing orders), durable goods orders (preliminary) for February rose 1.4% MoM (better than the +1.0% MoM exp), and notably swinging from a downwardly revised 6.9% MoM plunge in January (from -6.2%)...
Source: Bloomberg
That dragged the headline orders up 4.6% YoY. Ex-Transports also beat, rising 0.5% MoM (vs +0.4% exp) and up 1.3% YoY.
Non-defense aircraft orders jumped 24.6% MoM as it seems people are ordering Boeings again? Defense spending tumbled 12.7% MoM...
Source: Bloomberg
Computer & related products saw another big MoM rise as perhaps this is the AI cycle showing up in the data...
Source: Bloomberg
On the bright side, core capital goods shipments, a figure that is used to help calculate equipment investment in the government’s gross domestic product report, continued its strong bounce back from contraction in December...
Source: Bloomberg
Not exactly a signal that portends rate cuts!
