Durable Goods Better Than Expected--More Fodder For Recovery Crowd

Orders for durable goods fell 0.5% year-over-year in April, less than the -1.5% consensus. The number excluding transporation was up 2.5%, which marks an acceleration from year-over-year numbers of 1.5% in March, -2.1% in February, and -0.8% in January.

The headline durable goods figure declined 0.3% year-over-year in March, 0.9% in February and 4.4% in January.

This will add more weight to the argument that the economy bottomed in February and is already recovering.

Charts from briefing.com

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