Strong Durable Goods Report

More positive economic news:

Durable goods orders increased 3.6 percent as demand for goods ranging from aircraft to machinery rose, the Commerce Department said on Tuesday. Orders for these goods, which range from toasters to aircraft, had increased by a revised 3.6 percent in April.

Economists polled by Reuters had expected orders to rise 3.0 percent after a previously reported 3.5 percent increase the prior month.

Orders excluding transportation rose 0.7 percent after advancing 1.7 percent in April.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 1.1 percent. Orders for the so-called core capital goods had increased 1.2 percent in April and economists had expected a 0.3 percent gain last month.

The durable goods report is interesting to watch. Notice how sharply it fell during the recession.

Posted by Eddy Elfenbein on June 25th, 2013 at 10:22 am

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