US February durable goods orders provisional data now out March 23, 2018
The provisional durable goods orders for February came in better-than-expected at 3.1% versus 1.6% estimate.
- -3.5% prev revised up from -3.6%
- ex transport +1.2% vs +0.5% exp vs -0.2% (was -0.3%)
- cap goods orders non-defence ex-air +1.8% versus +0.9% exp. Prior month revised down to -0.4% versus -0.3% previous.
- cap good shipments non-def/ex-air +1.4% versus +0.5% expected. Prior month revised up to +0.1% from -0.1%
- The headline number has been up for 3 of the last 4 months. transportation equipment is also up for 3 of the last 4 months
- shipments of manufactured goods in February were higher and have risen 9 of the last 10 months
- machinery equipment is up 6 of the last 7 months
- unfilled orders for manufactured durable goods have been up father last 6 months suggested orders in the pipeline.
The report is often quite volatile but overall a good report that should increase estimates for 1Q GDP. The Atlanta Fed and the New York Fed will release their GDP estimates for the 1st quarter later in the day
The USDJPY has moved up on the report and trades at the highs for the London/European session at 105.22. The pair is moving back toward unchanged for the day at 105.29.
The full report can be found here on the Census Bureaus website.
