A Surprise in Durable Goods
The Commerce Department released the most recent data on the highly volatile Durable Goods Report. The April reading showed a gain of +2.9% versus a Dow Jones estimate of only +2.2% expected. The devil is always in the details. On…
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This generated a seasonally adjusted figure of $193.9 billion for the month of April, although airlines affected the numbers. Non-defense capital goods excluding aircraft fell by 2.4%, although that is on the heels of gains in both February and March.
The reading for March’s Durable Goods Orders was also revised To Unchanged versus a prior reading of -0.6%.
As a reminder, this is one of the more volatile reports of the economy because it has enough break-out sectors included that are not necessarily tied to each other.
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.
