US durable goods orders for April 0.7% versus -0.8% expected

• Prior month +0.9%
• Durable goods orders for April 0.7% versus -0.8% expected. Prior month 0.8%
• Ex-transport +0.4% versus 0.1% expected. Last month 0.0%.
• Ex-defense MoM was 0.0% vs 1.2% last month
• Nondefense Cap Ex-air 0.3% vs 0.1% expected. Last month -0.2%.
• Shipments were up 1.2% month on month. YoY shipments are up 2.3%

For the year:

• Durable goods orders rose 0.5%.
• Ex-transportation +2.1%
• Ex Defense + 1.4%

The gain in durable goods orders was the third consecutive monthly increase. Transportation equipment – also up three consecutive months, led the increase with a 1.2% gain for the month.

Of note is that this number can be quite volatile. Last month the preliminary release showed 2.6% gain in durable goods. It ended up at 0.8%. So be aware