Revision to durable goods orders

The week is getting off to a quiet start with the factory orders the only economic release on the schedule today.

Factory orders for the month March expected to show a -9.4% decline versus at 0.0% in the month of February. There is no estimate for ex transportation after a -0.9% decline in the prior month.

Within the total factory orders includes durable goods orders. The preliminary durable goods data was released 10 or so days ago (on April 24th to be exact) with the headline number showing a -14.4% decline. However most of the declines were as a result of transportation. If you took out transportation, the orders fell -0.2%. That is the estimate for today. Capital goods orders nondefense ex air rose by 0.1%. That too is the estimate for today's release.