FEB DURABLE GOODS ORDERS: -1.7% V 0.7%EXPECTED
; EX-TRANSPORTATION: -2.6% V -0.3%EXPECTED
DURABLE GOODS TABLE
FEB. JAN. DEC.
(Dollar Amounts In Billions)
New Orders for Durables 210.65 214.24 224.69
Percent Change -1.7 -4.7 4.4
New Orders, Ex-Defense 199.34 202.68 211.58
Percent Change -1.6 -4.2 2.0
New Orders, Ex-Trans. 148.50 152.47 154.03
Percent Change -2.6 -1.0 1.9
Primary Metals 21.19 20.97 20.79
Percent Change 1.0 0.9 -0.3
Fabricated Metals 25.59 26.03 26.90
Percent Change -1.7 -3.2 1.1
Machinery 27.13 31.29 31.18
Percent Change -13.3 0.4 7.8 (Trend has been down for months)
Computers/Electronics 27.86 27.24 28.06
Percent Change 2.3 -2.9 3.7
Electrical/Appliances 11.03 10.85 10.88
Percent Change 1.6 -0.2 1.2
Transportation Equipment 62.15 61.77 70.66
Percent Change 0.6 -12.6 10.1
Nondefense Cap. Goods 73.61 74.34 81.13
Percent Change -1.0 -8.4 5.4
Defense Capital Goods 8.76 9.74 11.57
Percent Change -10.1 -15.8 83.1
Durable Goods Shipped 210.52 216.52 211.75
Percent Change -2.8 2.3 -0.3
Unfilled Orders 820.61 814.48 808.03
Percent Change 0.8 0.8 2.5
One of the things we have been discussing for months is how business’s are (and would be) cutting back on spending. Everything from buying back their stock (a sign of hunkering down) to reducing employment, and now today we see further evidence of capital spending dropping further. This decline in spending is no surprise to us, and actually has been going on for some time now.
This decline in capital spending is one of the largest in history.
Market is set to open flat to slightly down per the pre market futures. The US Dollar has declined further again this morning on the Durable Goods data as it raises the chances, yet again, of more rate cuts.
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