Durable Orders
May Durable Goods: -0.3% Full Report
Inside the number: back to back declines on declining Boeing aircraft orders, April -30% & May -18%. Ex transportation new orders +0.7%. Durable goods off 3.5% since Dec peak, but, YTD durable goods +9.5%.
May durable goods shipments +2.6% largest increase since Dec peak, YTD at record level +7.3%. Non defense, non aircraft orders +10% YTD indicating business capital investment is growing.
"Although the pipeline is full, productive capacity is already stretched thin and with the economy set to cool further, it is unlikely that production will be ramped up in the second half of the year," said economists at Moody's Economy.com.
Inside the number: back to back declines on declining Boeing aircraft orders, April -30% & May -18%. Ex transportation new orders +0.7%. Durable goods off 3.5% since Dec peak, but, YTD durable goods +9.5%.
May durable goods shipments +2.6% largest increase since Dec peak, YTD at record level +7.3%. Non defense, non aircraft orders +10% YTD indicating business capital investment is growing.
"Although the pipeline is full, productive capacity is already stretched thin and with the economy set to cool further, it is unlikely that production will be ramped up in the second half of the year," said economists at Moody's Economy.com.
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