2011 Economic Calendar
POWERED BY  econoday logo
Resource Center »  U.S. & Intl Recaps   |   Event Release Dates   |   Event Definitions   |   Today's Calendar

Durable Goods Orders
Released On 12/23/2011 8:30:00 AM For Nov, 2011
PriorPrior RevisedConsensusConsensus RangeActual
New Orders - M/M change-0.7 %0.0 %1.9 %0.5 % to 5.5 %3.8 %
New Orders - Yr/Yr Change7.5 %8.4 %12.1 %
Ex-transportation - M/M0.7 %1.5 %0.4 %-0.5 % to 0.9 %0.3 %
Ex-transportation - Yr/Yr11.7 %12.9 %7.2 %

Highlights
New orders for civilian aircraft led to a huge spike in durables orders. Otherwise, durables orders were modestly positive. New factory orders for durables surged 3.8 percent, following a no change the prior month (prior revised estimate, down 0.5 percent). The November boost was much higher than the consensus forecast for a 1.9 percent jump. Excluding transportation, durables grew 0.3 percent after a 1.5 percent gain in October (prior revised estimate, up 1.1 percent). The November rise fell short of expectations for a 0.4 percent increase. However, upward revisions are offsetting.

Outside of transportation, new orders were led by primary metals and machinery with fabricated metals and "other" also gaining. Weakness was seen in computers & electronics and also electrical equipment.

A disappointment was in civilian capital equipment excluding aircraft which dipped 1.2 percent after a 0.9 percent decline in October. Shipments decreased 1.0 percent in November after a 0.8 percent fall the month before.

Overall, durables point to continued gains in manufacturing but not at a robust pace outside of aircraft.

Market Consensus before announcement
Durable goods orders in October fell a revised 0.5 percent, following a decline of 1.4 percent the prior month. Excluding transportation, durables advanced 1.1 percent after a 0.8 percent rebound in September. Weakness in October was led by transportation which fell 5.1 percent after dropping 7.5 percent in September. Within transportation, weakness was in nondefense aircraft.

Note that prior values in the consensus box reflect the initial estimates for durables and durables excluding transportation.

Definition
Durable goods orders reflect the new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods. The first release, the advance, provides an early estimate of durable goods orders. About two weeks later, more complete and revised data are available in the factory orders report. The data for the previous month are usually revised a second time upon the release of the new month's data.  Why Investors Care
 
[Chart]
Monthly fluctuations in durable goods orders are frequent and large and skew the underlying trend in the data. In fact, even the yearly change must be viewed carefully because of the volatility in this series.
Data Source: Haver Analytics
 

 

2011 Release Schedule
Released On: 1/272/243/244/275/256/247/278/249/2810/2611/2312/23
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


powered by  [Econoday]