March durable goods orders from the US Census Bureau
- Prior was +1.2%
Details:
- Ex transport -0.2% vs -6.5% exp
- Prior ex transport -0.6% (revised to -0.7%)
- Capital goods orders non-defense ex air +0.1% vs -6.7% exp
- Prior capital goods orders non-defense ex air -0.9% (revised to -0.8%)
- Capital goods shipments non-defense ex air -0.2% vs -0.7% exp
- Prior capital goods shipments non-defense ex air -0.8% (revised to -0.9%)
Transportation was a major drag here but the internal numbers were much stronger than feared. These will be revised in the factor orders report but if they hold up, it means that Q1 GDP won't be as weak as feared. Ultimately that probably just means Q2 will be even worse but we'll take good news where we can get it.
