Mixed Signals: Durable Goods Orders Up, But Not All Sectors Are Soaring

The U.S. economy might be showing signs of improvement as new orders for durable goods rose after two months of declines. Durable goods, which measure long-lasting items such as machinery and appliances, rose by 1.4 percent in February, higher than expectations. Orders advanced 1.8 percent on a year-on-year basis.

The increase, which recouped some of January’s significant losses, was driven by a surge in transportation equipment orders, mainly civilian aircraft. Notably, Boeing reported an uptick with 15 orders for commercial aircraft in February (compared to just three in January), although this is considerably slower than the end of 2023.

However, not all sectors of the durable goods industry saw growth. Technology and electronics equipment orders dropped, indicating a more cautious outlook in these areas. 

Economists noted that there seem to be early signs of a recovery, as the durable goods report showed a potential economic upswing. However, the data’s unevenness suggests a few months remain before the country sees a sustained recovery.  

Copyright © 2024 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com’s content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

]]>