Durable Goods Orders Up for Second Straight Month
(Positive) Real durable goods new orders in September 2016 were $241,857 million. Compared with one year ago, durable goods new orders grew 0.5 percent, which marks the second month in a row and fourth time in six months that orders have increased. The annual rate of change, now -0.7 percent, contracted at a slower rate for the third month in a row and contracted at the slowest rate since it began contracting in July 2015.
After one month of contraction, motor vehicle and parts orders increased for the second month in a row. However, the rate of growth has been modest recently. The annual rate of growth has decelerated to its slowest rate of growth since May 2010, which was the last time the annual rate of change contracted. It looks like MV&P orders will continue to decelerate on an annual basis.
Aerospace orders decreased in September 28.3 percent compared with one year ago. That was the fourth straight month of contraction of more than 22 percent. Also, it was the sixth time in eight months that aerospace orders contracted. The annual rate of contraction decelerated has accelerated each of the last two months, although the rate of contraction was much slower than the end of 2015 and beginning of 2016.
Accelerating Growth: construction materials, fabricated metal products, ship/boat building
Decelerating Growth: electronics, motor vehicle/parts
Decelerating Contraction: appliances, capital goods, durable goods, machinery/equipment, oil/gas-field/mining machinery, primary metals
Accelerating Contraction: aerospace, off-road/construction machinery, HVAC, power generationblog comments powered by Disqus