US Durable Goods Orders were expected to decline 1.0% in preliminary April data, but instead it rose 1.0% MoM (after March was revised down from 3.2% MoM to 2.8% MoM)...

Core orders (ex-Transports) dropped 0.2% MoM (worse than the 0.1% drop expected), pushing the YoY core orders into the red...

Most notable was the value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, which soared 1.4% last month (although YoY was the lowest since Dec 2020)...

So, despite tumbling manufacturing PMIs, it seems <strong>headline orders are holding up</strong> - and none of that is disinflationary.

...despite tumbling manufacturing PMIs, it seems headline orders are holding up - and none of that is disinflationary.
{ai:summary}<p>US durable goods orders rose 1.0% MoM in April, contrary to expectations of a 1.0% decline. However, core orders dropped 0.2% MoM, worsening YoY figures. #economy</p>

Core US Durable Goods Orders See Annual Decline; Investment Proxy Soared

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