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Orders of U.S. durable goods in February declined for the first time since April, falling 1.1%, against financial market expectations of a 0.5% gain. January's increase was revised modestly higher to 3.5% (prev +3.4%).
Orders of transportation equipment fell 1.6% in February, with motor vehicle and parts orders down 8.7% and defense aircraft and parts orders down 3.7%. Meanwhile, nondefense aircraft orders rose 103.3%. Excluding orders of transportation equipment, durable goods orders were down 0.9%. Markets had anticipated a gain of 0.5%.
Capital goods orders were up 2.9% following a stronger 8.5% gain in January, with nondefense capital goods orders up 5.6%. Excluding aircraft, nondefense capital goods orders fell 0.8% after rising 0.6% in January.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.