- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
by Tom Moeller April 26, 2016
New orders for durable goods increased 0.8% during March (-2.5% y/y) following a 3.1% February decline, revised from -2.8%. A 1.9% improvement had been expected in the Action Economics Forecast Survey.
A 2.9% rebound (-4.8% y/y) in orders for transportation equipment led the overall increase. It was paced by a 13.2% recovery (-28.2% y/y) in aircraft orders which followed a 27.7% decline. Motor vehicle & parts bookings declined 3.0% (+3.1% y/y) after a 0.5% rise.
Orders for nondefense capital goods declined 1.1% (-11.6% y/y) following an 8.0% drop. Bookings excluding aircraft were little changed (-2.4% y/y) after a 2.7% shortfall.
Machinery orders improved 0.5% (-0.2% y/y) following a 3.5% slump. Computers & electronic product bookings were off 0.6% (-1.6% y/y) after a 0.9% fall. Electrical equipment orders fell another 3.0% (-10.9% y/y), down for a second consecutive month. Fabricated metals orders declined 1.6% (+0.4% y/y), but primary metals orders improved 0.8% (-9.0% y/y).
Shipments of durable goods slipped 0.5% (-1.5% y/y) following a 1.0% decline. Shipments excluding transportation edged 0.2% higher (-2.0% y/y). Order backlogs of durable goods eased 0.1% (-1.7% y/y) and less transportation, they gained 0.1% (-0.9% y/y). Durable goods inventories remained steady (-1.7% y/y), and excluding transportation, they were up 0.1% (-3.0% y/y).
The durable goods figures are available in Haver's USECON database. The Action Economics consensus forecast figure is in the AS1REPNA database.
|Durable Goods NAICS Classification||Mar||Feb||Jan||Mar Y/Y||2015||2014||2013|
|New Orders (SA, %)||0.8||-3.1||4.3||-2.5||-3.3||6.8||2.2|
|Total Excluding Transportation||-0.2||-1.3||1.4||-1.4||-2.5||7.2||0.1|
|Nondefense Capital Goods||-1.1||-8.0||20.7||-11.6||-10.2||6.6||2.8|