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Due at 1230GMT for the US, preliminary February durable goods
(new home sales data due also, 1400GMT)
Previews via:
Barclays:
- We look for durable goods orders to rebound 2.3% m/m in February, following a sharp decline in January.
- We expect much of the rebound to be driven by transportation orders, especially for aircrafts.
- For orders excluding transportation, we look for a modest 0.3% increase. For core capital goods orders, we look for an increase of 0.5% m/m.
Commerzbank:
- Against the backdrop of strong domestic and external demand as well as the stimulus from the tax cuts, US businesses should continue ramping up their investment in equipment and software.
- For February, we forecast a 1.7% increase in durable goods orders (consensus: 1.6%). This gain should be broad-based, and reports by Boeing suggest that aircraft orders will probably come in higher.
Nomura:
- We expect a 0.4% m-o-m increase in new orders of durable goods excluding transportation equipment in February.
- Incoming data suggest that business activity continues to expand at a healthy pace. The ISM new orders index remained high in February despite a slight decline to 64.2, from 65.4. Other business surveys point to continued expansion in activity reflecting firm demand.
- Together with volatile transportation equipment orders, total durable goods orders likely increased a healthy 1.6% m-o-m.
- We expect a strong rebound in new orders of transportation equipment following a sharp decline in the prior month. New orders of defense aircraft and parts likely drove up the increase in transportation orders.
- For motor vehicle orders, we expect a modest increase based on industry forecasts.
