Durable Goods Gain, But Lag Estimates
The report on February’s durable goods rose again, albeit at a slower pace than expected. Orders rose by 2.2% to a seasonally adjusted $211.77 billion in a report from the Commerce Department. Dow Jones had published expectations of about 3.0%.…
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The report on February’s durable goods rose again, albeit at a slower pace than expected. Orders rose by 2.2% to a seasonally adjusted $211.77 billion in a report from the Commerce Department. Dow Jones had published expectations of about 3.0%.
On an ex-transportation basis the Durable Goods report would have been up 1.6%, while ex-Defense was up by 1.7%. Computers and electronics saw a 2.7% increase in new orders.
The durable goods report is a key barometer of capital spending, but it is also one of the most volatile readings out there because it involves so many big ticket items. So far we are not seeing any major market reactions to the report.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
