CD Media
Markets

Headline Durable Goods Order Misses, But Underlying Real Economy Numbers Strong

House Appropriations Defense Subcommittee hearing – 2020-03-11

The headline Durable Goods orders number released this morning for August missed estimates by almost a percent, indeed a disappointment. However, the underlying number, ex-defense orders, was very strong. Revisions of past months also moved higher.

In short, the numbers show Main Street recovering, while Boeing and other contractors are still seeing problems. Defense tends to be a big-ticket number and can vary month to month.

On the bright side – capital goods shipments non-defense, ex-air – a proxy for business investment, rose 1.5% MoM (better than the expected 0.8% MoM), reported Zero Hedge.

Durable Goods Orders (Aug) printed at 0.4% vs 1.5% consensus estimate.

Durable Goods Orders ex Transportation (Aug) printed at 0.4% vs 1.2% estimate.

Durable Goods Orders ex Defense (Aug) printed at 0.7% vs 0.1% estimate.

Nondefense Capital Goods Orders ex Aircraft (Aug) printed at 1.8% vs 0.5% estimate.

Related posts

The Market Is Taking Care Of Turkey’s Extremism And Aggression

CD Media Staff

UPDATE: DEMOCRATS HOLD AMERICA HOSTAGE FOR SOCIALISM!

CD Media Staff

Old Wall Street Proverb – Interest Rates Are Low Until They’re Not

L Todd Wood

1 comment

Avatar
DeniseVPrice September 25, 2020 at 2:35 pm

Google easily work and google pays me every hour and every week just $5K to $8K for doing online work from home. I am a universty student and I work n my part time just 2 to 3 hours a day easily from home. Now every one can earn extra cash for doing online home system and make a good life by just open this website and follow instructions on this page………Read More

Reply

Leave a Comment