US Durable Goods Orders dropped 1.4% MoM in preliminary December data (slightly better than the 2% decline expected) but well down from the +5.4% MoM surge in November...
Source: Bloomberg
The headline orders print was restrained by a decline in orders for aircraft.
Boeing said it received more orders for its planes in December than a month earlier, but the data don’t always correlate with the planemaker’s monthly figures.
That leaves Durable Goods Orders up 12.5% YoY in 2025 - one of the biggest annual increases ever.
Meanwhile, Core Durable Goods Orders (ex Transports) rose 0.9% MoM (triple the +0.3% MoM expected) and the ninth straight monthly increase...
Source: Bloomberg
Core Orders are up over 5% YoY in 2025 - the best YoY gain since Oct 2022.
Today's data also showed the value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, surged by dramaticallly larger-than-forecast 0.9%.
https://www.zerohedge.com/markets/core-durable-goods-orders-surge-9th-straight-month
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