US Durable Goods Orders Show 6th Straight Month Of Annual Declines

Following December’s surprise jump, Durable Goods Orders were expected to slide in January, and preliminary data shows they did but only -0.2% MoM (considerably better than the -1.4% expectation).

However, durable goods orders are still down 2.3% YoY – in contraction for 8 of the last 9 months…

Source: Bloomberg

Durable Goods Orders (ex-Transport) surged 0.9% MoM (much better than expected 0.2%), but YoY remains in contraction…

Source: Bloomberg

Additionally, core capital goods orders, which exclude aircraft and military hardware, jumped 1.1% after a 0.5% decline the prior month that was less than initially estimated

The headline durable-goods figure was depressed by the volatile transportation category, reflecting weak bookings for motor vehicles. One surprise was a surge in orders of civilian aircraft and parts, considering Boeing Co. on Feb. 11 said it received no aircraft orders in January.

Defense capital- goods orders dropped 39.8% after an 87.4% surge in December.

Of course, none of this matters as it prints before the virus impact.

Source Article from http://feedproxy.google.com/~r/zerohedge/feed/~3/Ucn0Dc6i0t0/us-durable-goods-orders-show-6th-straight-month-annual-declines

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