US Durable Goods Orders Jump Higher in January - Forex News by FX Leaders
The trend in orders keeps increasing

US Durable Goods Orders Jump Higher in January

Posted Thursday, February 25, 2021 by
Skerdian Meta • 1 min read

On Tuesday, the FED president Jerome Powell said that the US economy has lost momentum, which sounded strange since the data has only been improving in the last several months, with most sectors of the economy booming.

The unemployment claims fell below 800K earlier today, while durable goods orders increased in January. So, Powell is quite out of touch with the reality, but he is quite old to be honest. Below is the report for January.

January 2021 US durable goods orders data

  • January prelim durable goods orders +3.4% vs +1.1% expected
  • December was +0.5% (revised higher to +1.2%)
  • Core durables, excluding transportation +1.4% vs +0.7% expected
  • December core orders were +1.1% (revised higher to +1.7%)
  • Capital goods orders, non-defense, ex-air +0.5% vs +0.8% expected
  • Prior capital goods orders, non-defense, ex-air +0.7% (revised to +1.5%)
  • Capital goods shipments non-defense ex-air +2.1% vs +0.6% expected
  • Prior capital goods shipments non-defense ex-air +0.7% (revised to +1.0%)
That strong shipments number is a great sign for Q1 GDP and the overall report is great along with big upside revisions. The US economy is truly teed up for a massive rebound from the pandemic and there are at least 1.9 trillion reasons why it will continue to strengthen.
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