US Durable Goods Orders Tumbled In December As Boeing Bloodbath Continues

US Durable Goods Orders tumbled in December, according to preliminary data, dropping 2.2% MoM (vs +0.65 MoM expectations). Worse still, November’s 1.2% MoM decline was revised down to a 2.0% MoM decline…

Source: Bloomberg

The large decline appears to be Boeing related as Ex-Transports, durable goods rose 0.3% MoM as expected with non-defense aircraft and parts orders plunging 45.7% MoM…

Source: Bloomberg

The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, increased 0.5% last month after a revised 0.9% jump in November.

The bottom line – who knows? Ignore the noise and all is well. But what if the noise is the signal?