26 Mar 2015
US durable goods orders disappoint - Capital Economics
FXStreet (Bali) - Paul Ashworth, Chief North American Economist at Capital Economics, breaks down the disappointing US durable good orders data released on Wednesday.
Key Quotes
"Durable goods orders fell by 1.4% m/m in February, an even larger decline than expected."
"After seasonal adjustment, non-defence aircraft orders fell by 8.9% m/m, whilst motor vehicle orders fell by 0.5% m/m. Meanwhile, core orders fell by 0.4% m/m, with machinery orders down by 1.8% m/m."
It is possible that the unusually severe cold and snowy weather played a role in the weakness of core orders in February specifically, but the more general malaise started in the autumn of last year.
Key Quotes
"Durable goods orders fell by 1.4% m/m in February, an even larger decline than expected."
"After seasonal adjustment, non-defence aircraft orders fell by 8.9% m/m, whilst motor vehicle orders fell by 0.5% m/m. Meanwhile, core orders fell by 0.4% m/m, with machinery orders down by 1.8% m/m."
It is possible that the unusually severe cold and snowy weather played a role in the weakness of core orders in February specifically, but the more general malaise started in the autumn of last year.