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.
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