US Durable Goods Orders Dec P: 0.2% (est 1.0%; prevR 1.2%; prev 1.0%)

 


US Durable Goods Orders Dec P: 0.2% (est 1.0%; prevR 1.2%; prev 1.0%)
US Durable Goods Orders Ex Transportation Dec P: 0.7% (est 0.5%; prevR 0.8%; prev 0.4%)
US Cap Goods Orders Nondef Ex-Air Dec P: 0.6% (est 0.5%; prevR 1.0%; prev 0.5%)
US Cap Goods Ship Nondef Ex-Air Dec P: 0.5% (est 0.6%; prev 0.5%)

Dec durable goods new orders come in weaker (headline) for 4th month in a row and below expectations but were able to have their 8th positive month in a row. Excluding transportation, new orders beat estimates up 0.8% m/m with the increase driven by machinery orders up 2.4%. On the other side computers and electronic products saw new orders fall 0.2% and transp new orders were down 1%. Ex-transp and defense orders were up 0.5% m/m. Y/y new orders remain down 7% headline but excluding transp they are down only 0.1% but taking out defense they are down 7.1% y/y.

Shipments stronger up 1.4% (0.4% in Nov) m/m and now down 5% y/y, Ex-transp shipments up 0.8% m/m and ex transp and defense up 1.9%.  

Capital goods orders ex transp and defense (core cap goods orders, proxy for core biz spending) were up 0.6% m/m and are now up 1/8% y/y which is great to see. 



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