War-Spending Sparks Durable Goods Orders Rebound In February
Following January’s disappointing plunge (-3.6% MoM), expectations were for a 1.6% rebound in durable goods orders, but the print surprised to the upside, jumping 3.1% MoM. The ‘ex’ data also doubled expectations in the preliminary Feb release.
The volatility continues in durable goods orders…
But notably, YoY was flat at +9.1%…
And the big driver of February’s rebound – simple, war!
Defense Aircraft and parts orders: +37.7% MoM…
And Defense Capital Goods new orders: +16.5% MoM )
War.. is peace?
TLB published this article from ZeroHedge with our thanks to Tyler Durden for the analysis.
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