The first look at durable goods orders for April 2018
- Prior was -1.6%
- Ex transportation -0.3% vs +0.5% expected
- Prior ex transportation +0.9%
- Cap goods orders nondefense ex air -0.2% vs +0.5% expected
- Prior cap goods orders nondefense ex air +1.0% (revised to +2.3%)
- Capital goods shipments nondefense ex air -0.1% vs +0.3% expected
- Prior shipments +0.9% (revised to +1.0%)
This report is a tricky one to read. Core orders look weak at first blush but there is a huge upward revision to the March data so they're actually better than forecast.
The four-month moving average in core orders is at the highest since December.
