Durable Goods Orders
Aus dem King Report :
After the initial euphoria over better-than-expected Durable Goods Orders (-0.5% vs. -1.5%) traders realized the details of the notoriously erratic data showed a very suspicious increase in one component.
‘Electrical equipment’ soared a record 27.8% after a 19% March decline! Electrical equipment shipments increased only 0.5% and have been negative for 6 of the last 7 months! The inventory of electrical
equipment jumped 0.9% m/mand 6% y/y!?! It’s inexplicable that electrical equipment orders soared 27.8!
‘Total orders ex-defense equipment’ decreased 0.3% because military orders increased 4.8%. Auto orders fell 3.3%. Transportation equipment declined 8% on a 24% tanking of aircraft orders. Defense aircraft orders bubbled 106.7%. Semiconductor shipments jumped 25.4% despite the decline in PC demand?!?!
NOT SEASONALLY ADJUSTED Durable Goods [New] Orders DECLINED 1.7%!!! NSA electrical equipment orders increased 7.8%.


