U.S. Ex-Transportation Durable Goods Orders slowed to 0.2% in February

Source: Bloomberg

Durable Goods Orders

Released On 3/26/2014 8:30:00 AM For Feb, 2014 Prior Prior Revised Consensus Consensus Range Actual New Orders - M/M change -1.0 % -1.3 % 1.0 % -1.5 % to 2.5 % 2.2 % New Orders - Yr/Yr Change 4.6 % 4.3 % 0.2 % Ex-transportation - M/M 1.1 % 0.9 % 0.3 % -1.7 % to 1.5 % 0.2 % Ex-transportation - Yr/Yr 1.2 % 1.1 % 1.5 %

Highlights The latest durables orders report was mixed with the headline strong and the core slowing. New factory orders for durables in February rebounded 2.2 percent, following a decrease of 1.3 percent in January. Analysts projected a 1.0 percent rise. Excluding transportation, durables orders slowed to a 0.2 percent rise in February, following a 0.9 percent boost the prior month. The transportation component jumped a monthly 6.9 percent after dropping 6.2 percent the month before. Within transportation, the gain was led by increases in orders for defense aircraft although nondefense aircraft and motor vehicles also were strong.  Outside of transportation, orders were up slightly but very mixed by subcomponents. Gains were seen in primary metals, fabricated metals, computers & electronics, and "other." Notably offsetting were declines in machinery and electrical equipment. There was slippage in investment plans. Nondefense capital goods orders excluding aircraft decreased 1.3 percent in February, following a rebound of 0.8 percent the month before. Shipments for this series advanced 0.5 percent, following a 1.4 percent drop in January. The latest durables report suggests that manufacturing is not as strong as indicated by recent manufacturing surveys.