{"id":1473786,"date":"2024-06-27T12:49:41","date_gmt":"2024-06-27T16:49:41","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1473786"},"modified":"2024-06-27T12:49:41","modified_gmt":"2024-06-27T16:49:41","slug":"core-durable-goods-orders-decline-in-may-growth-scare-grows-as-shipments-plunge","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/core-durable-goods-orders-decline-in-may-growth-scare-grows-as-shipments-plunge\/1473786\/","title":{"rendered":"Core Durable Goods Orders Decline In May; Growth Scare Grows As Shipments Plunge"},"content":{"rendered":"

Core Durable Goods Orders Decline In May; Growth Scare Grows As Shipments Plunge<\/span><\/p>\n

\n

New Orders for Durable Goods in the US rose by just 0.1% MoM in preliminary May data (better than the -0.5% exp, but that was thanks to a major downward revision in April from +0.6% to +0.2%).<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The last four months have seen gains ebb rapidly and now durable goods orders are down 1.2% on a YoY basis<\/strong>.<\/p>\n

Of course this is constantly flattered before its revised later – 4 of the last 5 months have been revised lower (and 8 of the last 12<\/strong>)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Core Capital Goods Orders (non-defense, ex-aircraft) plunged 0.6% MoM<\/strong> (well below the +0.1% exp), matching the biggest drop this year…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…with both defense and non-defense spending slowing…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Furthermore, Capital Goods shipments non-defense, ex-aircraft plunged 0.5% MoM – a big drop for a key signal of business spending and GDP<\/strong>…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

How many times can a data series be downwardly revised before conspiracies about manipulated data flip from theory to actual ‘standard operating procedure’?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 06\/27\/2024 – 08:49<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/core-durable-goods-orders-decline-may-shipments-plunge<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Core Durable Goods Orders Decline In May; Growth Scare Grows As Shipments Plunge New Orders for Durable Goods in the US rose by just 0.1%…<\/p>\n","protected":false},"author":0,"featured_media":1473787,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1473786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1473786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1473786"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1473786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1473787"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1473786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1473786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1473786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}