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Friday, March 29, 2024

Durable Goods Orders Tumble In January

Courtesy of ZeroHedge. View original post here.

Durable goods orders slumped unexpectedly in January – dropping 3.7% MoM (vs a 2.0% expected decline), and worse still, December’s bounce was revised lower as the ‘uneven-ness’ of the so-called recovery rears its ugly head once again.

The uglier picture here is that January’s plunge is not a reflection of a one-off December surge (in aircraft or defense orders) as we have seen previously.

Core durable goods orders dropped for the first time in 7 months…

Non-Defense new orders also declined MoM.

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