New orders for Durable goods increased 3% for January.
Before you get all excited, it's all aircraft. Nondefense aircraft and parts had a 126% increase in new orders. What is more interesting is shipments in this same category dropped 18.1%. Previously mentioned, aircraft is a particularly volatile number. Obviously each order represents millions, sometimes billions and if someone cancels? Well.
Without aircraft Durable goods new orders actually dropped -0.6%.
Shipments also stayed flat from last month, a minor drop of 0.2%. Inventories also flat lined decreased, a minor -0.1%.
Last months new orders was revised to 1.9% increase from 1%.