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Thursday, June 24, 2021

March prelim durable goods orders +0.5% vs +2.5% expected

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Highlights of the March 2021 preliminary durable goods orders report:

  • Prior was -1.2%
  • Durables ex transportation +1.6% vs +1.6% expected
  • Prior ex transportation -0.9%
  • Capital goods orders non-defense ex-air +0.9% vs +1.8% expected
  • Prior capital goods orders non-defense ex-air -0.9%
  • Capital goods shipments non-defense ex-air +1.3% vs  +1.5% expected
  • Prior capital goods shipments non-defense ex-air -1.1%

This is a bit of a disappointment. Survey measures of orders have been very strong but there’s been some moderation in the hard data in Feb/March. I don’t think that’s enough to rattle the market but it’s something to keep an eye on.

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