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WRAPUP 1-US core capital goods orders, shipments increase in February
Orders excluding aircraft and defense rose 1.5% from January and 5.8% from a year earlier, the Census Bureau said.
- On Tuesday, the Commerce Department reported U.S. core capital goods orders reached a record $278 billion in February, jumping 1.5% from January and 5.8% year-over-year.
- Total durable goods orders fell 1.4% to $315 billion in February, weighed down by a 28.6% plunge in commercial aircraft orders as Boeing received only 21 civilian aircraft orders, sharply down from 107 in January.
- Manufacturing growth was driven by increases in primary metals to $29 billion and machinery to $41 billion, while business investment remains supported by artificial intelligence and data center construction.
- Economists warn the ongoing war with Iran may hamper shipments, with supplier delivery times reaching a four-year high in March. Stephen Stanley, chief U.S. economist at Santander U.S. Capital Markets, expects firms to turn cautious.
- Despite macro headwinds, Oren Klachkin, financial market economist at Nationwide, said "AI investment is unlikely to be deterred by the current global macro backdrop and should offer a consistent tailwind to durable goods and topline GDP.
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WRAPUP 1-US core capital goods orders, shipments increase in February
( ) * Core capital goods orders increase 0.6% in February * Shipments of core capital goods jump 0.9% By Lucia Mutikani WASHINGTON, April 7(Reuters) - New orders for key U.S.-manufactured capital
·Buffalo, United States
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
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