Updated: 25-Feb-21 09:43 ET
| January Durable Orders |
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| Updated: 25-Feb-21 09:43 ET |
Highlights
- Durable Goods Orders for January surged 3.4% m/m (Briefing.com consensus 1.2%) following an upwardly revised 1.2% increase (from 0.2%) in December.
- Excluding transportation, durable goods orders rose 1.4% (Briefing.com consensus 0.6%) following an upwardly revised 1.7% increase (from 0.7%) in December.
Key Factors
- New orders for primary metals increased 3.2% after a 1.2% increase in December.
- New orders for fabricated metal products jumped 1.8% after increasing 2.8% in December.
- New orders for machinery slipped 0.3% after a 3.5% increase in December.
- Transportation equipment orders rose 7.8% following a 0.1% increase in December, although new orders for motor vehicles and parts fell 0.8% following a 2.2% increase in December.
Big Picture
- The key takeaway from the report is that it showed an ongoing pickup in business spending, evidenced by a 0.5% m/m increase in nondefense capital goods orders excluding aircraft. These orders -- a proxy for business spending -- are now up 8.3% yr/yr.
| Category | JAN | DEC | NOV | OCT | SEP |
| Total Durable Orders | 3.4% | 1.2% | 1.3% | 1.8% | 2.1% |
| Less Defense | 2.3% | 1.4% | 1.3% | 0.8% | 3.8% |
| Less Transport | 1.4% | 1.7% | 1.0% | 2.0% | 1.5% |
| Transportation | 7.8% | 0.1% | 2.0% | 1.5% | 3.3% |
| Capital Goods | 8.5% | -1.2% | 0.7% | 3.3% | 5.7% |
| Nondefense | 6.5% | -1.2% | 1.1% | 0.7% | 11.5% |
| Nondefense/nonaircarft (core cap gds) | 0.5% | 1.5% | 1.2% | 1.7% | 1.9% |
| Defense Cap Goods | 20.2% | -0.9% | -1.4% | 21.7% | -21.9% |
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