Updated: 27-Feb-23 09:39 ET
| January Durable Orders |
 |
|
| Updated: 27-Feb-23 09:39 ET |
Highlights
- Durable goods orders declined 4.5% month-over-month in January (Briefing.com consensus -3.9%) following a downwardly revised 5.1% increase (from 5.6%) in December.
- Excluding transportation, durable goods orders rose 0.7% month-over-month (Briefing.com consensus +0.1%) following a downwardly revised 0.4% decline (from -0.1%) in December.
Key Factors
- New orders for nondefense aircraft and parts declined 54.6% month-over-month after increasing 105.6% in December.
- New orders for primary metals increased 0.5% month-over-month after declining 0.4% in December.
- New orders for machinery jumped 1.6% month-over-month following a 2.2% decline in December.
- New orders for fabricated metal products improved 0.1% month-over-month after declining 0.4% in December.
- New orders for computers and electronic products increased 0.5% month-over-month after declining 0.7% in December.
Big Picture
- The key takeaway from the report was the strength seen in nondefense capital goods orders, excluding aircraft -- a proxy for business spending. Those orders were up 0.8% month-over-month following a 0.3% decline in December. Shipments of these same goods, which factor into GDP forecasts, were up a healthy 1.1% after declining 0.6% in December.
| Category | JAN | DEC | NOV | OCT | SEP |
| Total Durable Orders | -4.5% | 5.1% | -1.8% | 0.7% | 0.2% |
| Less Defense | -5.1% | 5.6% | -2.3% | 0.4% | 1.3% |
| Less Transport | 0.7% | -0.4% | 0.0% | 0.1% | -0.9% |
| Transportation | -13.3% | 15.8% | -5.2% | 1.9% | 2.3% |
| Capital Goods | -12.8% | 14.6% | -4.6% | 1.4% | 0.5% |
| Nondefense | -15.3% | 17.5% | -6.6% | 1.0% | 3.7% |
| Nondefense/nonaircarft (core cap gds) | 0.8% | -0.3% | -0.2% | 0.3% | -0.7% |
| Defense Cap Goods | 3.8% | -1.3% | 8.2% | 4.2% | -16.6% |
|
|