Feb 08 Durable Orders & New Home Sales
Summary: Double down... New home sales declines 10th month out of 12; hitting lowest in 13 years.
Durable orders declines 5th month out of 7 with the biggest slump ever in demand for machinery...
indicating companies are becoming more reluctant to invest as the economy heads further into a recession.
Durable Orders Feb -1.7% vs prior -4.7% Full Report
Inside the number: Prior revised down 0.6%. 2nd straight & 5th decline in 7 months;
Shipments -2.8%; 3rd decline in 4 months. Machinery -13.3%; the largest decline since comparable records began in 1992.
All other durable goods -1.1%; Capital goods -2%
Non defense capital goods -1%; Non defense new orders -1.6%; Capital goods ex aircraft -2.6%; Defense new orders capital goods -10.1%.
New Home Sales Feb -1.8% 590K vs prior 601K Full Report
Inside the number: Prior revised up 14K; YOY -29.8%; YTD -30.7%. 4th straight and 10th decline in 12 months.
Inventory flat at 471K, a 9.8 month supply; YOY +21%.
Durable orders declines 5th month out of 7 with the biggest slump ever in demand for machinery...
indicating companies are becoming more reluctant to invest as the economy heads further into a recession.
Durable Orders Feb -1.7% vs prior -4.7% Full Report
Inside the number: Prior revised down 0.6%. 2nd straight & 5th decline in 7 months;
Shipments -2.8%; 3rd decline in 4 months. Machinery -13.3%; the largest decline since comparable records began in 1992.
All other durable goods -1.1%; Capital goods -2%
Non defense capital goods -1%; Non defense new orders -1.6%; Capital goods ex aircraft -2.6%; Defense new orders capital goods -10.1%.
New Home Sales Feb -1.8% 590K vs prior 601K Full Report
Inside the number: Prior revised up 14K; YOY -29.8%; YTD -30.7%. 4th straight and 10th decline in 12 months.
Inventory flat at 471K, a 9.8 month supply; YOY +21%.
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