COM - Advanced Durable Goods Shipments April 2024: Mixed Signals
2024-05-24 11:35:15 ET
Summary
- Real advanced durable goods shipments grew by +1.09%, accelerating from the prior month.
- However, growth in real core durable goods shipments (excluding transportation) contracted by -0.52%.
- Overall, the durable goods data were mixed and did not significantly change the economic outlook.
The Census Bureau just published its Monthly Advance Report on Durable Goods Manufacturers' Shipments Inventories and Orders. Released at 8:30 AM, May 24, 2024, this report contains revised estimates of durable goods shipments in the U.S. during the month of April 2024. In this article, we provide an in-depth analysis of the just-released data and then discuss their implications for the U.S. economy and financial asset prices.
According to the Census, Real Advanced Durable Goods Shipments (adjusted for inflation) grew by +1.09% representing a +0.68% acceleration from the prior month. Real advanced durable goods manufacturers' shipments, on a 3-month annualized basis, grew by +8.57%, well above the historical median (82nd percentile)....
Advanced Durable Goods Shipments April 2024: Mixed Signals