Global| Jun 26 2002Durable Goods Orders Rose
by:Tom Moeller
|in:Economy in Brief
Summary
Durable goods orders rose as expected last month. April figures were revised down. Orders for nondefense capital goods rose strongly and were boosted by a 31.3% gain in aircraft orders (down 54.1% in April). Excluding aircraft, [...]
Durable goods orders rose as expected last month. April figures were revised down.
Orders for nondefense capital goods rose strongly and were boosted by a 31.3% gain in aircraft orders (down 54.1% in April). Excluding aircraft, nondefense capital goods orders rose 0.2% following a 5.6% rise in April.
Orders for computers and electronic products rose 1.0%, the third consecutive monthly gain. Machinery orders fell slightly following a 4.5% April gain. Orders for electrical equipment also fell, down 2.2% after a 10.3% April surge.
Orders for defense goods fell 9.7% after dropping 46.6% in April. Excluding defense, durable orders rose 0.8% (-1.3% y/y) after a 3.7% April gain.
Durable shipments fell slightly, up 5.8% from the low last September.
Durable inventories fell 0.6% and the April decline was revised deeper.
| NAICS Classification | May | April | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Durable Goods Orders | 0.6% | 0.4% | -1.6% | -11.4% | 3.3% | 5.4% |
| Nondefense Capital Goods | 3.3% | 1.4% | -6.6% | -16.5% | 7.9% | 3.9% |
by Tom Moeller June 26, 2002
Sales of new single family homes rose much more than expected last month. April sales were revised higher with sales up 12.3% in the last two months.
May sales of 920,000 were expected.
Sales were up in each of the country’s regions with double-digit m/m gains in the Northeast and South.
The median price of a new home fell 8.8% to $170,200 (-2.9% y/y).
The new home sales data reflect current sales versus the existing home sales figure which reflect closings on past sales.
| Homes Sales (000s, AR) | May | April | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| New Single-Family | 1,028 | 951 | 16.3% | 908 | 880 | 879 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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