Durable goods is generally considered to be one of the most volatile economic reports issued each month. The Commerce Department also showed that durable goods was very strong on the headline data, but not so strong when you back out key transportation ticket items.
April’s headline durable goods reading was up by 0.8%, much higher than the Dow Jones estimate of -0.7% and the Bloomberg consensus estimate of -0.8%. Durables were only up by 0.1% on an ex-transportation basis. Bloomberg had that estimate at -0.1%.
The transportation segment inside durable goods was up by 2.3% in April, but this was led by a 13.1% gain in defense aircraft orders.
Another key reading is the non-defense capital goods orders excluding aircraft, and this report fell by 1.2% in April. This segment’s shipments were down by 0.4% as well.
Where the report’s impact gets a bit complicated is that the headline report for March was revised up to 3.6% from a previous report of being up 2.5%.
Stocks have remained in positive territory on Tuesday morning, so the report is not creating many waves.
ALSO READ: New GenCorp Engine to Give Stratolaunch a Boost Into Space
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
