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Durable Goods New Orders Improves In October 2012
Tuesday, November 27, 2012 10:20
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Written by Steven Hansen
Durable goods sector improved in October – according to Econintersect‘s analysis. Even with the improvement, this sector of the economy’s analysis remains in a downtrend. This analysis is better than the headline data.
Backlog was declined marginally this month – and remains in a short term down trend. Backlog is THE indicator of health of this sector.
Econintersect Analysis:
- new orders up 5.7% (up 6.9% last month) month-over-month, and up 5.3% year-over-year
- production (inflation adjusted using Industrial Production – durable goods) down 1.6% month-over-month, up 4.2% year-over-year [note that this is a series with moderate backward revision - and it uses production as a pulse point (not new orders or shipments)]
- backlog (unfilled orders) down 0.1% month-over-month
- transport (planes and cars) and defense were the drags on durables this month.
2012-11-27 09:03:35
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