Durable Goods Miss Consensus As Nondefense Shipments Plunge 40.2%, Ex-Transporation Beat Expectations
August Durable Goods come all over the place - total number is a major miss to expectations, but stripping away transportation and aircraft, these beat. As expected, the market will cherry pick what it likes and surges on the news.
- US Durable Goods Orders (Aug) M/M -1.3% vs. Exp. -0.1% (Prev. 0.3%, Rev. to 0.7)
- Durable ex. Transportation (Aug) M/M 2.0% vs. Exp. 1.0% (Prev. -3.8%, Rev. to -2.8)
- Non-def Cap ex. Aircraft (Aug) M/M 4.1% Exp. 3.0% (Prev. -7.2%, Rev. to -5.3)
Perhaps someone should point out to Boeing and all US defense companies that Nondefense aircraft and parts shipments and new orders plunge by -13.5% and -40.2% in August.