Durable Goods Orders Rate Continues Trend

April was the third-straight month that new orders contracted more than 2.2%. 

New orders for real durable goods in April totaled $245,248 million, which was down 2.7% from one year ago. April was the third-straight month that new orders contracted more than 2.2%. These are the first consecutive months of contraction since early 2017. The annual rate of growth decelerated for the sixth month in a row, moving from 3.6% to 2.6%. This was the slowest rate of annual growth since August 2017.

Compared with one year ago, few orders for motor vehicles and parts grew just 0.9% in April. That was the slowest month-over-month growth since orders contracted in May 2018. The annual rate of growth accelerated 5.2% and should to decelerate more in future months. 

Aerospace orders contracted 33.9%, contracting for the sixth time in seven months. Additionally, this was third consecutive month that aerospace orders contracted more than 21%. The annual rate of change contracted for the second month in a row.

Accelerating Growth: HVAC, power generation

Decelerating Growth: computers/electronics, construction materials, durable goods, fabricated metal products, machinery/equipment, motor vehicle/parts, off-road/construction machinery, primary metals, total capital goods

Accelerating Contraction: aerospace, oil/gas-field/mining machinery

Decelerating Contraction: appliances, ship/boat building


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