Headline: Up 2.5%, month-over-month, in March
Consensus: 1.9% growth, month-over-month
Analysis: Last month, durable goods orders flopped in the original report, coming in much lower than expected.
That data has now been revised higher, to show durable goods orders growth of 0.7% for the month of February.
So that’s three straight months of growth.
Digging into the details, ex-autos, the number was lower than expectations, at 1.3% versus 1.9% growth expected.
From the release:
New orders for manufactured durable goods in March increased $5.0 billion or 2.5 per cent to $208.4 billion, the U.S. Census Bureau announced today. This increase, up three consecutive months, followed a 0.7 per cent February increase. Excluding transportation, new orders increased 1.3 per cent. Excluding defence, new orders increased 2.3 per cent.