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Monday, July 22, 2024
HomeNewsEconomyNew Durable Goods Orders Beat Estimates, Shipments Surge

New Durable Goods Orders Beat Estimates, Shipments Surge


American workers at a manufacturing plant for long-lasting durable goods. (PHOTO: REUTERS)

New durable goods order increases by 1.7% in February to slightly beat the median forecast by 0.2%, while shipments surged 1% after losing 0.3% in January. However, the weakest link in the report is core capital goods (non-defense ex-aircraft), where orders fell 0.1% in February juxtaposed to expectations for a 0.5% gain.

It follows January’s revised 0.1% gain.

Core capital goods shipments are used to calculate equipment spending in the government’s gross domestic product measurement. Boeing Co (NYSE:BA) reported on its website that it had received orders for 43 aircraft last month, up from 26 in January.

Civilian aircraft orders soared 47.6% in February.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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